Arena Centre in Zagreb to benefit from EBRD loan

As part of a larger financing facility in Zagreb, the European Bank for Reconstruction and Development (EBRD) has announced that €34 million will be made available for the Arena Centre so it can go through a process of modernisation.

According to the plans, the site will undergo refurbishments and improvements with regards to energy efficiency. Furthermore, the entertainment complex will allow young people to learn on-the-job so they are allowed new skills. In terms of the loan itself, the money will be sent to Granit-Polus Laniste d.o.o who own the Arena Centre. Additionally, there will also be opportunities for new capital expenditure with energy efficiency providing one of the key aims. If all goes to plan, the complex will introduce an energy efficiency certification as well as Croatia’s first green lease program which should ensure sustainability across the board.

EBRD’s Regional Director for Croatia, Slovenia, Hungary, ad the Slovak Republic, Vedrana Jelusic Kasic, has said “The Arena Centre is a landmark in downtown Zagreb and we are very happy to support the efforts to now turn it into a green milestone. It demonstrates our commitment to the development of Croatia’s capital and we are in addition very proud that our loan will also support local young people getting training for a successful career in the labour market.”

EBRD’s Director of Property and Tourism, Claudia Pendred, said “We are delighted to lend and mobilise long-term financing for Arena Centre. We will also be setting new standards for sustainability in the property sector in Croatia by financing a mall which will be BREEAM certified and the first to introduce green leases.”

After signing the very first project back in 1994, the EBRD has now invested over €3.5 billion in nearly 200 projects in Croatia. So far, the money has been spread evenly throughout the economy but particular focuses have been seen when it comes to corporate, infrastructure, energy, and financial institutions.