An amendment to the COSME agreement signed between the European Investment Fund and the Czech-Moravian Guarantee and Development Bank in December 2016 enables to guarantee loans for small entrepreneurs in an additional amount of EUR 370m (CZK 10bn) during next two years.
The COSME agreement between EIF and CMZRB was signed in August 2015. Until the end of the year 2016 it facilitated support of more than 1,500 Czech small businesses. EIF counter-guarantee was designed to enhance capacity of the national guarantee programme “GUARANTEE 2015-2023” launched by the Ministry of Industry and Trade of the Czech Republic.
Due to the extension of the EIF counter-guarantee and additional national co-financing the total capacity of the guarantee programme for the period 2015-2018 will reach EUR 556m (CZK 15bn) supported loans issued for more than 4,500 businesses.
Press release: Czech language version