Czech Republic: CMZRB and EIF sign COSME agreement to support SMEs


The European Investment Fund (EIF) and Czech-Moravian Guarantee and Development Bank have signed on August 18 2015 the first COSME agreement in the Czech Republic. The deal benefits from the support of the European Fund for Strategic Investments (EFSI) through which the Investment Plan for Europe is being deployed by the European Commission and the EIB Group.

The agreement will provide CMZRB with a counter-guarantee allowing the organisation  to support EUR 160 million (ca. CZK 4,400 million) of loans to SMEs in the Czech Republic over the next two and a half years. The loans will be provided thanks to a counter-guarantee from EIF under the COSME programme with financial backing from the European Commission. The agreement will make it possible for CMZRB to support additional financing at favourable conditions under its “Programme Guarantee 2015-2023” to over 1,400 small enterprises.

Press release : Czech language version

Photo credit: Jiuguang Wang – Flickr