CZK 37 billion of EU subsidy reserves to remain available for Czech Republic

The Czech Republic will not lose access to the CZK 37 billion of EU performance reserves allocated for the 2014 –2020 programme period, Regional Development Ministry Spokesman Vilém Frček announced on Tuesday. Frček, whose ministry is responsible for drawing from the subsidies, says that the country fulfilled most of the targets set by the European Commission. This means that it will be able to draw from the so-called performance reserve, which makes up roughly 6 percent of the total funding allocated to the Czech Republic during the specified period.

Author: Tom McEnchroe