Involvement in the EIB's Youth Employment Initiative (Jobs for Youth Initiative); HBOR provides end-users of loans that employ and/or will employ young people with an additional advantage of reducing the interest rate by 50 basis points. A young person is one who is at least 15 years old and at most 30 years old at the time of recruitment/training.
The final beneficiaries eligible for interest rate reduction are: Small and Medium-sized Enterprises meet at least one of the following four criteria:
- have employed and still employ at least one young person or plan to employ at least one young person within the next 6 months, counting from the date of signing the loan agreement with the end-user, during the 6 months prior to the submission of the loan application to HBOR or a commercial bank;*, or
- offer vocational training for young people or traineeships/training programmes for young people at the time of the application for the loan and there is written evidence that the young person(s) has/have used such services, or
- at the time of the loan application, have a cooperation agreement for the employment of young people concluded with a school or educational institution providing university or professional studies (e.g. during a summer traineeship) and there is written evidence that the young person(s) used such services, or
- already benefit from aid through national measures to encourage (young) employment at the time of the loan application.
The final beneficiary shall also submit a completed "Declaration on the fulfilment of the Youth Employment Criteria" as a confirmation of the above with the Loan Application, which is available on the website www.hbor.hr
The measure concerns new loan applications under the existing lending programmes of HBOR:
| Infrastructure
Environmental protection Energy renovation of buildings Economy Shipping New production Restructuring Tourism |
Small and medium-sized enterprises
Agriculture and balanced development Beginners Youth entrepreneurship Findings Women Entrepreneurs Permanent working capital
|
The measure applies to the entire loan repayment period. The resources foreseen for the implementation of the measure are limited.
* This item covers an employment relationship of indefinite duration, a fixed-term employment relationship, a fixed-term employment relationship for permanent seasonal jobs, a probationary period, a traineeship, professional training without entering into an employment relationship, and does not cover the hiring out of workers through temporary employment agencies and work through student or student services.
