A Partial Credit Guarantee : Enhancing Access to Credit Markets during Constrained Times
To Croatia, the ripples of the European financial crisis felt more like large waves! The challenging market conditions limited the ability of the Croatian Bank for Reconstruction and Development (HBOR) to raise funds efficiently without credit enha...
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| Language: | English en_US |
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International Finance Corporation, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/23940167/null http://hdl.handle.net/10986/21469 |
| Summary: | To Croatia, the ripples of the European
financial crisis felt more like large waves! The challenging
market conditions limited the ability of the Croatian Bank
for Reconstruction and Development (HBOR) to raise funds
efficiently without credit enhancement. This in turn impeded
a steady flow of credit to the private sector, which was
necessary to enhance competitiveness ahead of Croatia s
entry to the European Union in July 2013. In response to a
request from the Croatian government, the World Bank decided
that a Partial Credit Guarantee (PCG) would be the ideal
instrument to assist HBOR. |
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