News from 18-08-2015

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

The European Investment Fund (EIF) and Czech-Moravian Guarantee and Development Bank have signed the first COSME agreement – an EU funding programme for SMEs – 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.