Jadrolinija and the International Finance Corporation, an institution of the World Bank, have signed a letter of intent to prepare the necessary investments to finance the fleet renewal.
The Croatian state-owned company announced: “The signing took place after several months of intense collaboration with representatives of the IFC and the World Bank, during which the financing conditions for the investment program were defined based on the company’s development needs and priorities. The collaboration with IFC and the World Bank is expected to provide support for the transformation and modernization of the fleet, with particular attention to sustainability, energy efficiency, and the ecological transition.”
This partnership represents an important step towards the implementation of the fleet renewal plan and the signed letter of intent is a strong confirmation of the confidence that international financial institutions are demonstrating in the strategic development of Jadrolinija, the statement reads.
“The collaboration with IFC and the World Bank is a strong demonstration of confidence in our strategy and a further incentive for the implementation of the planned investments,” said Robert Blažinović, CEO of Jadrolinija. “This partnership represents an important step for promoting Croatia’s green transition,” said Marcelo Castellanos, Senior Manager for Southeastern Europe of the IFC.
The fleet renewal plan includes the purchase of double-ended ferries powered by biodiesel or dual-fuel systems, depending on the technical solutions and financing models, as well as new passenger units with propulsion from alternative energy sources. “Our strategy includes the implementation of green technologies in line with national and European objectives for the decarbonization of maritime transport,” the company explained.
Currently, the Jadrolinija fleet has an average age of 27.8 years, lower than the European average of 33 years, and about 2,000 employees, of which 200 are seasonal.
