Projects financed through loans from international financial institutions
World Bank loanThe loan agreement for the Earthquake Recovery and Public Health Preparedness Project, the implementation of which is under the competence of the Ministry of Physical Planning, Construction and State Assets, was signed on 1 and 2 July 2020 by Deputy Prime Minister of the Republic of Croatia and Finance Minister Zdravko Marić and Elisabetta Capannelli, Director of the World Bank Office for Croatia. After the signing, international treaties are subject to ratification by the Croatian Parliament and the Act on Ratification of the Loan Agreement between the Republic of Croatia and the International Bank for Reconstruction and Development was ratified on July 31, 2020, thus fulfilling the basic preconditions for entry into force. The development goal of the project is to assist Croatia with the post-earthquake reconstruction in Zagreb and its surroundings, with improving institutional capacities for reconstruction and strengthening national systems for public health preparedness.
The total value of the loan amounts to 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.
Very soon after the earthquake, Croatia began communication with the World Bank and prepared the damage assessment document “Croatia Earthquake - Rapid Damage and Needs Assessment 2020”. According to this assessment, total damage on about 25,000 buildings amounts to HRK 86 billion, which is more than 60 percent of the state budget.
On 4 June 2020, the Government adopted the Report on conducted negotiations for the conclusion of the Loan Agreement between the Republic of Croatia and the International Bank for Reconstruction and Development for the Earthquake Recovery and Public Health Preparedness Project with a total loan value of USD 200 million.
The Ministry of Physical Planning, Construction and State Assets, the Ministry of Health and the Ministry of Science and Education are currently drafting the Project Operational Manual (POM) for the implementation of the earthquake recovery and public health preparedness project. The aim of the manual is to assist all relevant institutions and organisations in project management and implementation. The acceptance of the document by the World Bank is also a condition for the realisation of the loan.