- The European Investment Bank and MONETA Money Bank signed a loan to support Czech companies with up to 3,000 employees.
- A significant part of the loan will support projects that will help the Czech Republic to be more environmentally sustainable and competitive.
A loan of EUR 100 million (CZK 2.5 billion) from the European Investment Bank concluded with MONETA Money Bank will improve economic opportunities for entrepreneurs and small and medium-sized companies in the Czech Republic. At least 12% of the total amount must be allocated to projects with a positive impact on the climate and the environment. In addition, MONETA has pledged to multiply this allocated volume: shortly, it will offer entrepreneurs and small companies around 700 million crowns to finance their sustainable business plans.
“Our current cooperation with the EIB further strengthens our commitment to support entrepreneurs and small entrepreneurs who form the backbone of the Czech economy. We are ready to continue fulfilling our goal of becoming a stable champion for this very important part of our economy in the difficult times that await the Czech Republic in the context of the green transition as a traditional area of ​​heavy industry,” said the Chairman of the Board and CEO of MONETA Money Bank Tomáš in this context Stubborn.
“We are pleased to expand our collaboration with MONETA to further support business opportunities in the country – often in regions with lower economic activity – and to promote growth that benefits people and the planet,” said EIB Vice President Kyriacos Kakouris, who is responsible for EIB operations in the Czech Republic.
MONETA will offer the funds of the European Investment Bank through special loan products for at least two years. As part of the so-called “green loans”, these funds will be allocated to projects for the production of energy from renewable sources, equipment for their production, and storage, including pumped hydropower plants. Farmers will also be able to apply for a loan, namely for projects that contribute to preventing soil erosion or drying out, increasing carbon stocks in the soil, or replacing agricultural, traction, and forestry machinery. Urban and suburban public transport projects are also eligible for financial assistance from the EIB: for example, the acquisition of trams, subways, cable cars or emission-free buses, but also the construction of the necessary infrastructure, such as electric chargers, hydrogen filling stations, signaling for railway and tram transport or electric roads systems (ERS). The conditions will also be met by projects for investments in the renewal of water supply systems, sewage networks, and waste water treatment plants or plans to improve the energy efficiency of existing buildings and industrial facilities.
About MONETA Money Bank
MONETA Money Bank is a leading independent Czech bank providing services to its customers through a nationwide branch network. Since entering the Prague Stock Exchange in 2016, the bank has a strong position in the retail and agricultural sectors and focuses its services on small and medium-sized enterprises. In addition, the bank provides other products such as insurance or investment funds. MONETA’s clients make up over 13% of the population of the Czech Republic and use its multi-channel strategy, which includes 134 branches and 562 own ATMs, a further 1,409 ATMs through a network shared with three other banks, a top digital platform, a call center, contracted car dealers and leasing partners. It owns a licensed building savings bank that offers building savings products in the Czech Republic.
About the European Investment Bank
The European Investment Bank (EIB), a long-term credit institution of the European Union (EU), is owned by member states. It finances high-quality investments and thus contributes to the objectives of EU policy within and outside the European Union. Together with the European Investment Fund, the EIB forms the European Investment Banking Group. The EIB has been cooperating with the Czech Republic since 1992 and provides investments to support infrastructure, small and medium-sized enterprises, the environment and innovation. After more than 30 years, the support of the EIB Group is approaching 30 billion euros.
Source: Moneta Money Bank’s press release form March 27, 2024
