July the 28th, 2024 – The tourism company Maistra has had a massive 200 million euro loan approved for the renovation of the iconic Marjan Hotel.
As Poslovni Dnevnik writes, the International Financial Corporation (IFC), which is otherwise part of the World Bank, has approved a sustainability loan in the amount of 200 million euros to Croatia’s Maistra Hospitality Group.
This is the first so-called “blue” loan in the whole Croatian tourism sector, from which Maistra will reconstruct the much loved Marjan Hotel in Split. In addition, the money will be used to renovate and upgrade the Vrsar Holiday Village camp in Istria. The deadline for Maistra to use the cash from this loan is December the 31st, 2026, and the final maturity date is September the 15th, 2036.
The sustainability-linked loan will provide Maistra with interest rate incentives to improve their environmental and social performance. The terms of the loan will be tied to obtaining IFC’s innovative zero-carbon green building EDGE certificate for the Marjan Hotel. It should be noted that these “blue” certificates have been recognised by the Global Council for Sustainable Tourism for both of the aforementioned locations in Dalmatia and Istria. They will contribute to a significant reduction in greenhouse gas emissions in the group’s rich portfolio of 34 properties.
“We are more than aware that our competitive advantage, along with systematic investments in top quality facilities, is mainly based on natural resources. Therefore, environmental protection and business operations in accordance with the principles of sustainability are our main strategic guidelines”, said the President of the Management Board of Maistra, Tomislav Popović.
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