Guarantee Scheme

"Istria 21" Development Consortium

Analyses of the entrepreneurs' needs have shown that the lack of appropriate guarantee instruments for banks represents the main barrier to accessing loans, and thus new entrepreneurial undertakings or investments. For this reason, aiming to establish a more favourable financial environment for entrepreneurs on the territory of the County of Istria, in February 2005 the first Croatian regional guarantee scheme was founded, named the Istria 21 Development Consortium. The initial capital of the Consortium was 3,4 million kunas, invested by the County of Istria (2,4 million kunas) and the Istrian Development Agency (IDA) Ltd. (1 million kunas). Offering entrepreneurs a more complete support, the establishment of the Consortium represented a step forward in IDA's mode of providing financial help to small and medium-sized enterprises, that up to that point was mainly focused on lowering interest rates.

In May 2005, under the name Guarantee of Success, the first credit line was set up within the framework of the Consortium. The credit line potential was 34 milions of kunas.

Through that credit line 24 credits of a total value of 18,7 milions kunas were realized, for which as many guarantees, amounting to 1,7 million kunas were given.

In may 2007 the second credit line with a potential of 54 milions of kunas was launched and in march 2009 the third with a  potential of 100 milions of kunas.

In March 2010 the Consortium had 168 members.

Consortium Information

For additional information about the Consortium and its admission criteria, interested entrepreneurs may contact Mr Edo Cetina at +395-52-381900, or by e-mail at Otvara prozor za slanje e-mailaedo.cetina(at)


Otvori eksterni link u trenutnom prozoru"Istria 21" Development Consortium Agreement

"Istria 21" Development Consortium Admission Request [PDF 132 KB]

The Consortium in Brief

The guarantee consortium represents a sustainable and renewable form of financial support to entrepreneurs, thus facilitating a more efficient use of the taxpayers' money. The Consortium is a contractual relationship on the basis of which the contracting parties, the public sector and the entrepreneurs team up to jointly face the financial institutions. In fact, the Consortium is a financial lever for enterprises, offering support to promising entrepreneurial projects, with an aim of creating a favourable environment, primarily towards financial institutions.

The entrepreneurs themselves play an active part in the Consortium. They participate directly in the allocation of guarantees and the work of the Consortium through the Guarantee Committee, which is made up of two representatives of the public sector, one representative of the commercial bank and four representatives of the small and medium-sized enterprises sector.


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