April 23 - The European Investment Bank (EIB) is lending ?4m to Croatian plastics company Dina Petrokemija to upgrade an existing vinyl chloride monomer plant and construct a new plant for the production of polyvinyl chloride (PVC).
This expansion is designed to help the company - a subsidiary of Dioki - meet local and international demand for PVC. This is the first time that EIB funds have supported a larger project promoted by a corporation in Croatia.
An EIB memorandum said the loan was designed to help ease the country s integration with the European Union (EU), which it hopes to formally join next year or in 2012.
The EIB supports investment projects that prepare the country for EU membership, said the note, which added the bank has since 2001 provided loans in Croatia worth ?.2bn, including the Dina Petrokemija financing, which it said was a sound investment .
The EIB lends at competitive rates.
This expansion is designed to help the company - a subsidiary of Dioki - meet local and international demand for PVC. This is the first time that EIB funds have supported a larger project promoted by a corporation in Croatia.
An EIB memorandum said the loan was designed to help ease the country s integration with the European Union (EU), which it hopes to formally join next year or in 2012.
The EIB supports investment projects that prepare the country for EU membership, said the note, which added the bank has since 2001 provided loans in Croatia worth ?.2bn, including the Dina Petrokemija financing, which it said was a sound investment .
The EIB lends at competitive rates.
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