Ministry of Industry and Trade informed the Czech government on March 22, 2017, about its intention to enter into an agreement with Českomoravská Záruční a Rozvojová Banka (Czech-Moravian Guarantee and Development Bank, ČMZRB) on the formation of the E 2016 Credit Fund and E 2016 Guarantee Fund. ČMZRB will provide discounted loans and issue guarantee certificates for loans from commercial banks as part of the EXPANZE support program for small and medium enterprises. The government has already approved the EXPANZE program and the proposed allocation totals CZK 8.8bn. According to Prime Minister Bohuslav Sobotka (ČSSD), smaller firms’ development should be among ČMZRB’s main tasks in the future.
