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Prague – The European Investment Bank (EIB) will lend the Czechoslovak Commercial Bank 350 million euros, approximately 8.2 billion CZK, with the aim of increasing so-called green and other financing for businesses in the Czech Republic. Thanks to this cooperation, ČSOB and its leasing department will offer small and medium-sized enterprises financing under favorable conditions. EIB informed ČTK about this today.
The money intended for climate protection and sustainability will, according to the EIB, focus on energy-efficient production and agriculture, on clean transport in the form of electric vehicles, buses, and rail facilities, and on renewable energy, including solar and wind energy and biomass. The financing will also mainly benefit less developed areas in the Czech Republic, so-called cohesion regions.
“Small and medium-sized enterprises and mid-cap companies are the backbone of the European economy and the driving force of innovation, employment, and sustainable growth,” said EIB Vice President Kyriacos Kakouris. This new loan, according to him, will enable Czech companies to have better access to financing and also accelerate their transition to greener and more reliable activities, thereby increasing the competitiveness of the economy and the environmental resilience of the Czech Republic.
The goal of the loan is to reduce greenhouse gas emissions and support environmental sustainability, which is in line with the climate action strategy adopted by the EIB, and with the European Green Deal, which aims to ensure Europe’s climate neutrality by 2050. The loan also strengthens the EU’s policy focused on supporting economic growth and social cohesion.
“The CZ must transition to a low-emission, more sustainable, and efficient economy with higher added value. Without this shift, Czech companies risk losing competitiveness in international markets,” said ČSOB board member Ján Lučan. (November 29)