The European Bank for Reconstruction and Development's board will decide on the loan for the underground garage in Klaićeva Street on October 7. The project brings 860 parking spaces and a complete reconstruction of the playground near Mimara.
The European Bank for Reconstruction and Development (EBRD) has announced that it is considering approving a loan of up to €70 million to Zagreb Holding. The funds are intended to finance the first phase of an ambitious urban revitalization plan for Zagreb, the centerpiece of which is the construction of an underground garage in Klaićeva Street. The bank's board decision is expected on October 7, 2026.
The loan is structured in two equal tranches. The mandatory portion amounts to €35 million, with an equal amount earmarked for the optional tranche. As stated by the EBRD, the financing will support the development of underground parking facilities, the installation of bicycle infrastructure, and preparatory works for the installation of electric vehicle charging stations.
The EBRD emphasizes that the primary goal of the project is to address key urban mobility challenges. "The project aims to address key urban mobility and traffic challenges by relocating parking capacities underground and investing in sustainable mobility infrastructure. Therefore, it is expected to reduce pressure on surface parking, improve urban public spaces by reallocating space to pedestrians and cyclists, as well as introducing additional greenery in the streets around the parking facility, while promoting more sustainable modes of transport and mobility," the bank stated.
The project is expected to benefit from an InvestEU guarantee under the EBRD's "Sustainable Transition Framework II" program, which has a total value of €750 million. This program is focused on supporting investments in the transition to a green economy.
The planned garage in Klaićeva Street, for which the City of Zagreb obtained a building permit several months ago, will be the largest public garage in the capital. It will be located beneath the high school playground known as Mimara, between Klaićeva Street to the north and Izidora Kršnjavog Street to the south. The project includes three basement levels with a total of 860 parking spaces, including spaces for people with disabilities.
Zagreb Mayor Tomislav Tomašević previously confirmed that this is a capital project. "This is the largest public garage in Zagreb, whose construction will be financed by a loan to Zagreb Holding, with the financial structure expected to be closed with the EBRD in the near future," it was announced.
Although work was initially scheduled to begin in the spring, according to revised plans, the start is expected by the end of 2026. The implementation is divided into three phases, with the underground garage being built first, followed by the complete reconstruction of the surface playground.
