Czech Moravian Guarantee and Development Bank and the CEB conclude a loan agreement for the financing of job-creating SME investment projects
4 January 2008
The aim of the Project is to contribute to the creation of new permanent and seasonal jobs through strengthening the competitive position by facilitating access to medium and long-term funding of beneficiary SMEs, which are otherwise limited in accessing third party financing. SMEs play a significant role in the Czech economy and are a driving force behind innovation, employment and social integration.
The project represents the second operation with CMZRB, a key partner for the CEB in the Czech Republic, as the only State-controlled specialized banking institution with a development mandate, including providing assistance to SMEs and supporting the realization of public policies. The CEB initiated its cooperation with CMZRB in June 2005 with a € 20 million project in the sector of environmental protection, through the co-financing of municipal investments aimed at purification and protection of surface and ground water.
Since the Czech Republic became a member state of the CEB in 1999, loans approved in the country have amounted to around € 85 million for 5 projects, most of which through partner financial intermediaries.