Prague – The European Investment Bank (EIB) has announced a loan of 350 million euros (approximately 8.2 billion CZK) to the Czechoslovak Commercial Bank (ČSOB) aimed at enhancing green and other financing opportunities for businesses in the Czech Republic. This partnership will allow ČSOB and its leasing division to provide favorable financing options to small and medium-sized enterprises (SMEs).
The funding is earmarked for initiatives related to climate protection and sustainability, focusing on energy-efficient production, sustainable agriculture, and clean transportation options such as electric vehicles, buses, and railway facilities. Additionally, the funding is set to support renewable energy projects, including solar, wind, and biomass energy, with an emphasis on aiding less developed regions in the Czech Republic, known as cohesion regions.
“Small and medium-sized enterprises, along with mid-cap companies, form the backbone of the European economy and drive innovation, employment, and sustainable growth,” stated EIB Vice President Kyriacos Kakouris. He highlighted that this new loan will facilitate better access to financing for Czech firms and promote their transition to greener, more reliable business practices, ultimately enhancing the competitiveness and environmental resilience of the Czech economy.
The primary aim of the loan is to lower greenhouse gas emissions and bolster environmental sustainability, aligning with the EIB’s climate action strategy and the European Green Deal, which targets climate neutrality for Europe by 2050. This initiative also supports the EU’s broader goals of fostering economic growth and social cohesion.
“The Czech Republic must shift towards a low-emission, more sustainable, and efficient economy that generates higher added value. Failing to make this transition could jeopardize the competitiveness of Czech companies in the international marketplace,” warned ČSOB board member Ján Lučan. (November 29)
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