The CoE Development Bank has approved a € 300 million loan to the Czech Republic to finance health expenditure to combat the COVID-19 pandemic

CEB Governor Rolf Wenzel said: “In light of this unprecedented pandemic, the Bank has mobilised additional human and financial resources to ensure that it is in a position to assist its member countries in the best possible way. The loan provided to the Czech Republic is part of a first fast-track package of close to € 1.7 billion supporting projects in health and MSME financing in countries affected by the pandemic. Additional support will be made available in the coming weeks as we are stepping up efforts to curb the impact of COVID-19 on human lives and on the economies of our member countries.”

The Czech Republic joined the CEB in February 1999. To date, the Bank has made available more than € 1.7 billion in financing for a wide range of social investments in municipal infrastructure improvements and for MSMEs, mostly through financial intermediaries. The present loan is the first loan agreement directly with the Czech government. In addition, the Czech Republic has contributed with grant resources to the Bank’s trust funds. More information can be found on the CEB websites.