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Czech Republic: EIB invests €191 million in development of regional and municipal infrastructure projects | Business
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EIB supports financing of infrastructure development projects in Czech Republic
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Insurers put tornado damage at CZK 3 6 billion as state offers support
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2 days ago
The European Commission has approved a €11.6 million Czech scheme to support businesses active in the travel services sector in the context of the coronavirus outbreak. The measure was approved under the State Aid Temporary Framework. The public support will take the form of bank guarantees, securing these beneficiaries’ co-participation under a compulsory insurance against bankruptcy. Guarantees will be issued by Czechia’s promotional bank, the Czech-Moravian Guarantee and Development Bank, on behalf of the Ministry of Industry and Trade. The support will help beneficiaries that are facing a lack of liquidity to obtain such an insurance, allowing them to continue their activities during and after the outbreak. The Commission found that the Czech scheme is in line with the conditions set out in the Temporary Framework. In particular, the aid (i) will not exceed the maximum amount per company provided by the Temporary Framework; and (ii) will be granted no later tha