The Djuro Djakovic Group and the Croatian Bank for Reconstruction and Development (HBOR) signed on Tuesday a HRK 150 million loan agreement to help with cash flow.

Also signed was an agreement on the issue of domestic and foreign bank guarantees in the same amount.

In January the government decided to provide a state guarantee, and in May the European Commission approved the government’s decision on a HRK 300 million guarantee to help with the group’s cash flow in the next six months.

After the government decision, a HRK 150 million loan agreement was signed with the Croatian Postal Bank.

Djuro Djakovic employs 794 people and has a diverse portfolio, including defence, transport and energy, while the company’s core activity is the manufacture of special purpose goods wagons.

The group wrapped up 2019 with a total loss of HRK 223.64 million. Equity amounts to HRK 203.06 million.

(€1 = HRK 7.5)