EBRD Considers 70 Million Euro Loan for Zagreb's Underground Garage and Urban Mobility Projects

The European Bank for Reconstruction and Development (EBRD) is evaluating a significant loan of up to 70 million euros to Zagrebački Holding, the public utility company of Zagreb, Croatia. This potential financing is intended to bolster the modernization of urban mobility and transport infrastructure within the nation's capital.

The proposed loan package includes a mandatory tranche of 35 million euros and an optional tranche of the same amount. The funds will be instrumental in advancing the initial phase of Zagreb's Urban Revitalization Improvement Plan. Key components of this phase involve the development of underground parking facilities, the installation of supporting infrastructure for bicycles, and preparatory work for charging stations for electric vehicles (EVs).

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The project aims to address key urban mobility and transport challenges by relocating parking capacity underground and investing in sustainable mobility infrastructure.

The EBRD's Board of Directors is scheduled to vote on the loan on October 7. The project is expected to benefit from an InvestEU guarantee under the EBRD's "Sustainable Transition Framework II," a program valued at 750 million euros designed to support green economy transition investments. The EBRD highlighted that the project aims to alleviate urban mobility challenges by relocating parking underground and investing in sustainable mobility infrastructure, thereby improving public spaces and promoting greener transport options.

Separately, Zagreb Mayor Tomislav Tomašević recently confirmed that the city has secured a building permit for a large underground garage in Klaićeva street. This project, colloquially known as the "Mimara" garage, will be situated beneath a school sports field. It is planned to have three basement levels offering 860 parking spaces, including designated spots for individuals with disabilities. While initially slated to commence in the spring, construction is now anticipated to start by the end of the year, divided into three stages, with the garage construction preceding the field's renovation. This facility is poised to be Zagreb's largest public garage, with its financing structure nearing finalization through the EBRD loan.

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It is the largest public garage in Zagreb, the construction of which will be financed by a loan from Zagrebački Holding, with the financial structure expected to be closed with the EBRD in the near future.