Czech state to release CZK 1.8 billion for interest-free loans to businesses in coal regions

The National Development Bank (NRB), together with the Ministry of the Environment, is launching an interest-free loan program in so-called coal regions to support investment by small and medium-sized businesses. The state will make a total of 1.8 billion crowns available. Businesses in the Ústí nad Labem and Karlovy Vary regions will be able to take out preferential loans of between 500,000 and 60 million crowns, while those in the Moravian-Silesian Region can borrow up to 100 million crowns, the bank said in a press release today.

According to the bank, the funds will cover up to 90 percent of eligible project costs. Businesses will be able to apply from Monday, April 17.

„We will provide loans at zero interest. The repayment period will be up to ten years, with the option to defer repayments free of charge for up to four years. No fees will be charged for the loan itself or for early repayment,“ said Pavel Křivonožka, an NRB board member responsible for business management.