We would like to inform you that the City Council of the Capital city of Prague this afternoon has approved the financial support for Prague entrepreneurs within the “COVID Prague” programme in cooperation with the Czech-Moravian Guarantee and Development Bank.

Starting on Tuesday, April 21st, small and medium-sized enterprises based and operating in Prague will be able to apply for a guarantee for a commercial bank loan together with a financial contribution to the paid interests by the Czech-Moravian Guarantee and Development Bank (ČMZRB). CZK 600 million have been earmarked for this “COVID Praha” programme. Guarantee conditions are likely to be the same as in COVID II: businesses will be able to obtain a guarantee of up to 80 percent of the principal of a commercial loan with a guaranteed loan amount of up to CZK 15 million, including a three-year guarantee and a financial contribution. It will be possible to finance the costs of wages and energy, rent, payment of supplier-customer invoices, pre-financing of receivables or acquisition of assets, inventory and other small assets.

We will provide you with more information in the upcoming days.