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Prague to add CZK 46 mln to COVID fund supporting entrepreneurs

Prague City Hall will add another CZK 46 million (EUR 1.725 mln) to a special fund to support entrepreneurs affected by anti-coronavirus measures through interest-free loans, councilors agreed on July 13, Czech Radio said. 

Zdeněk Hřib, Mayor of Prgaue. Photo by Prague City Hall Archive

Previously, the Czech capital had allocated CZK 640 million to the fund, which seeks to aid entrepreneurs unable to apply for funds through the government’s COVID II relief program.

Mayor of Prague Zdeněk Hřib said earlier that the move would allow the city to guarantee loans of up to CZK 1.55 billion, through the Czech-Moravian Guarantee and Development Bank.

Entrepreneurs can apply for interest-free loans ranging from CZK 10,000 to CZK 15 million, or for a contribution of up to CZK 1 mln to pay interest, Czech Radio said.