Prague to add CZK 46 million to Covid fund supporting entrepreneurs

Prague City Hall will add another 46 million crowns to a special fund to support entrepreneurs affected by anti-coronavirus measures through interest-free loans, councillors agreed on Monday.

Previously, the Czech capital had allocated 640 million crowns to the fund, which seeks to aid entrepreneurs unable to apply for funds through the government’s Covid II relief programme.

Prague Mayor Zdeněk Hřib (Pirates) said earlier that the move would allow the city to guarantee loans of up to 1.55 billion crowns, through the Czech-Moravian Guarantee and Development Bank (ČMZRB).

Entrepreneurs can apply for interest-free loans ranging from 10,000 to 15 million crowns, or for a contribution of up to 1 million crowns to pay interest.