Apart from being complex in expert terms and implying an interdisciplinary approach, reconstruction is also extremely demanding in financial terms.
The damages caused by the earthquakes are enormous: HRK 86 billion
for Zagreb and its surrounding area and HRK 41.6 billion
for the Banovina region, which totals about HRK 128 billion.
Intensive government activities at all levels for the reconstruction and revitalisation of the affected areas have so far resulted in ensuring approximately €3.8 billion, or about HRK 28.5 billion, which includes EU funds and an international financial institution loan.
At the end of 2020, Croatia was granted a record 683 m euro from the European Solidarity Fund to remedy the consequences of the Zagreb earthquake. For these funds, the line ministries and the City of Zagreb have announced public calls for the reconstruction of buildings in the fields of education, cultural heritage, transport infrastructure and health and for the purpose of securing temporary accommodation, and the funds are drawn directly by the City of Zagreb and the neighbouring counties.
Based on the document “Croatia Earthquake - Rapid Damage and Needs Assessment 2020” of December 2020, the Ministry of Regional Development and EU Funds submitted on 18 March 2021 an application by the Republic of Croatia for financial assistance for reconstruction from the European Union Solidarity Fund.
In addition, a World Bank loan was signed. The total value of the loan is USD 200 million, of which USD 180 million is earmarked for post-earthquake recovery and reconstruction, USD 15 million for public health surveillance and preparedness, and USD 5 million for project management. Read more about the loan.