COVID Plus Guarantee programme providing support for exporters receives CZK 4 billion

EGAP, the Czech state’s export and insurance guarantee company, will receive CZK 4 billion crowns from the Czech government to be used as securities for loans to the country’s largest exporters who have been affected by the COVID-19 pandemic.

The government approved the transfer of funds, on Friday, which means its COVID Plus Guarantee programme (EGAP PLUS program) that seeks to provide support for exporters will now be able to go ahead. Further funds may be transferred to fund the programme if needed.

The Ministry of Finance increased EGAP's insurance capacity from CZK 142 billion to CZK 330 billion, as a result of the coronavirus crisis.

Author: Tom McEnchroe