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Czechia will receive 188 million euros from the EU budget to involve companies in the reconstruction of Ukraine

by AI | 07.Mar 2025 | Europe in brief AI

The Czech Republic received support from the financial instruments of the European Union for the activities of Czech entities abroad for the first time ever.

Firefighters stand in front of a building that was destroyed by Russian attacks. Photo: Francisco Dry/AP/dpa

Prague – The Czech Republic will receive 188 million euros (approximately 4.7 billion crowns) from the European budget to involve Czech companies in the reconstruction of Ukraine in the form of guarantees for investment loans and combined guarantees with grants, the Ministry of Foreign Affairs announced in today’s press release. The Czech Republic received support from the European Union’s financial instruments for the activities of Czech entities abroad for the first time ever.

“Our companies are active in many areas in Ukraine, for example, they significantly contribute to the restoration of the energy system, we supply water treatment plants to the Dnipro region or equipment for operating rooms in Lviv, Kyiv, or Kharkiv. The success of Czech industry brings growth not only to our entrepreneurs but also helps our economy,” said Prime Minister Petr Fiala (ODS).

For the first program, the EU will provide 100 million euros (approximately 2.5 billion crowns) in the form of guarantees for bank loans. It primarily concerns the restoration of Ukrainian energy. The Ministries of Industry and Trade and Foreign Affairs plan to provide another approximately 850 million crowns for loan financing for Czech companies.

The second program focuses on the modernization of six selected Ukrainian hospitals, for which the Czech Republic will receive 88 million euros (2.2 billion crowns) from the European budget. They will be provided in the form of guarantees for bank loans, grants, and technical assistance for the hospitals.

The EU created the so-called Ukraine Instrument last year with the aim of supporting the Ukrainian economy with 50 billion euros (1.25 trillion crowns). The Union expects that the money will largely return to the European economy. Support for Ukraine was provided in the form of a loan, and a significant part is planned to be invested in the investment projects of companies based in the EU, which have ambitions to participate in the reconstruction of Ukraine, noted the Ministry of Foreign Affairs. (March 7)