In what has been described as its largest equity investment in the tourism sector, the EBRD has signed an investment agreement which makes it a shareholder in D Marinas B.V., which is the holding company for a network that includes ten marinas in Croatia, Greece, and Turkey. Under the new agreement, the brand name D Marin will be recognized as the holding company.

With a €70 million investment, EBRD has secured 25 percent of the stakes, it was also announced that the funds would be used to promote the growth of the company through projects such as the development of the marina management operations, more acquisitions and deleveraging.

With over 8,000 berths offered, D Marinas B.V. stands out as the largest and only international chain of marinas in the Eastern Mediterranean region. The company is supported by one of Turkey’s leading business conglomerates, Doğuş Holding A.S., and an old partner of EBRD.

 The planned expansion will promote the advancement of the local tourism sector, increase growth and create more jobs. The funds sourced from the EBRD Shareholder Special Fund in line with the technical cooperation agreements will be used to finance the training programmes and career advancement opportunities for young men and women.

This investment is regarded under the recent EBRD Inclusive Tourism Framework which has been organized for the Eastern Mediterranean Region. It is aimed at growing and upgrading the local tourism sector through investments in hotels and tourism operators.

The First Vice President of EBRD Jurgen Rigterink has signed the investment agreement in Zagreb, in his comment, he stated that “with this investment, the EBRD has demonstrated its long-term commitment to support the progress of Croatia’s economy. Tourism is a major driver of growth for the country, and we expect this investment to open up new opportunities for local businesses as well as create new jobs. The beginning of the tourism season is the right time to sign such an important investment agreement which affords EBRD the opportunity to provide necessary capital for the next developmental phases in the tourism sector which is also important for Croatia, Greece, and Turkey.”