News from 15-12-2016
EIF and CMZRB sign extension of COSME agreement

An extension of 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 with an additional amount of EUR 370m (CZK 10bn) during the next two years.

The original COSME agreement between the EIF and CMZRB was signed in August 2015. Until the end of 2016 it facilitated support for more than 1,500 Czech small businesses. The 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 as well as additional national co-financing the total capacity of the guarantee programme for the period 2015-2018 will reach EUR 556m (CZK 15bn). It will facilitate the provision of loans for more than 4,500 businesses.

Source: CMZRB