The Croatian government cleared state-owned rail freight carrier HZ Cargo to take out a 15.4 million kuna (EUR 2 million) loan from Zagrebacka Banka to refinance a short-term credit agreed in 2012, the country’s transport ministry said, quoted by SeeNews.
The loan repayment would cause additional liquidity problems for HZ Cargo while slowing down its restructuring and financial consolidation program which is why the company asked for another refinancing credit, the ministry said.
No state guarantees will be provided for the new loan.
Share on:
