EC approves second CZK 50bn subsidy program for CR

(ČIA) The European Commission (EC) has approved a second umbrella programme of public support for the Czech Republic in the amount of up to CZK 50bn. The measure is intended for companies of all sizes and operating in all sectors of the economy, except financial services. The aid will take the form of direct grants, guarantees or loans to compensate beneficiaries for expenses incurred between February 2020 and December 2021. Businesses that have experienced a 25-50% decline in turnover in the period compared to the pre-pandemic period are eligible for the support. Cultural entrepreneurs are eligible if they have been restricted or prevented from providing their services as a result of government measures. The amount of aid per beneficiary may reach up to EUR 1.8m, except for agriculture and fisheries, where the maximum amount of aid is EUR 225,000 and EUR 270,000, respectively.



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