Croatian Bank for Reconstruction and Development (HBOR) is a special financial institution, 100%-owned by the Republic of Croatia, combining the functions of a development and export bank, and export credit agency. HBOR was established on 12 June 1992 by the enactment of the Croatian Credit Bank for Reconstruction (HKBO) Act. The amendments to the Act in December of 1995 changed the bank’s name to Croatian Bank for Reconstruction and Development. In late 2006, the Croatian Parliament passed the new Croatian Bank for Reconstruction and Development Act, which came into effect on 28 December 2006. By conducting its business within its authorities and competencies, HBOR stimulates sustainable and balanced economic and social development in accordance with the general strategic goals of the Republic of Croatia. Main directions of activity: • financing of reconstruction and development of the Croatian economy, • financing of infrastructure, • stimulation of export, • support to development of small and medium-sized enterprises, • stimulation of environmental protection, • insurance of export of Croatian goods and services against non-marketable risks (export credit insurance). In this essay, I will analyse the role of HBOR, acting as an export credit agency and its support to Croatian exporters by providing them different programs so they can protect their foreign receivables against the risks of non-payment of their foreign buyers.