Croatian Postal Bank HBP and HAVC Sign Cooperation Agreement On Financing for AV Production


    ZAGREB: The Croatian Postal Bank HBP and the Croatian Audiovisual Centre (HAVC) have signed an agreement that will provide the Croatian AV sector with access to significantly more financing for AV works.

    The Croatian Postal Bank (Hrvatska poštanska banka – HPB), in collaboration with the Croatian Audiovisual Centre (HAVC), has developed a new credit product in its portfolio that will facilitate the financing of audiovisual production for certain types of AV works receiving state subsidies awarded by HAVC.

    The new HPB credit product enables the financing of:

    I) national audiovisual works in accordance with the State Aid Programme for the Allocation of Funds for the Promotion of Audiovisual Production, Audiovisual Culture and Preservation of Audiovisual Cultural Heritage (Selective State Aid), and

    II) audiovisual works in accordance with the State Aid Programme for Encouraging Investment in the Production of Audiovisual Works (Automatic State Aid – Filming in Croatia)

    "The cooperation with HPB is a new step that facilitates credit financing for projects supported by HAVC. It will provide Croatian producers with financial security during the film production phase and offer a better negotiating position in arranging international coproductions. We are glad that, as a Croatian bank, HPB has recognised the potential of the audiovisual sector. We believe that this collaboration will contribute to the further success of our films and make Croatia an even more desirable filming location," said HAVC CEO Christopher Peter Marcich.

    "This collaboration allows us to have a more flexible approach to clients with specific needs – producers of audiovisual works, micro, small and medium enterprises, via several financing models, with the aim of promoting audiovisual production, audiovisual culture and the preservation of audiovisual heritage.

    We are very proud to participate in promoting the popularity of Croatia as a recognisable filming location. Croatia’s film tourism is experiencing a real boom, while one of the most significant positive effects of such tourism is attracting tourists to our destinations even in out of season periods. We believe that in the future we will continue to develop this cooperation to mutual satisfaction," stated Hrvatska poštanska banka, joint-stock company.

    For financing of audiovisual production until 31 December 2023, in accordance with the duration of both state aid programmes awarded by HAVC, HPB has secured a total annual amount of 100,000,000.00 HRK (up to 50,000,000.00 HRK planned for financing domestic production projects in accordance with the Selective State Aid Programme, and up to 50,000,000.00 HRK for financing foreign production projects – Filming in Croatia).