European Bank for Reconstruction and Development (EBRD) provides a $24 million loan to finance Split Port development, according to Bloomberg.
The Port of Split is a port in the central Dalmatian city of Split, Croatia.
As of 2011, the port ranks as the largest passenger port in Croatia and the third largest passenger port in the Mediterranean, with annual passenger volume of approximately 4 million.
The port is managed by the Port of Split Authority (PSA).
The loan, which will mature in 15 years, will be used for port development and port facilities upgrade.
Founded in 1991, the EBRD uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia.
EBRD provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies to support privatization, restructuring state-owned firms and improvement of municipal services.
Dredging Today Staff, November 9, 2012