The Czech Republic will receive 702 million euros from the European Commission

The Czech Republic will receive 702 million euros from the European Commission
The Czech Republic will receive 702 million euros from the European Commission

The European Commission released subsidies in the amount of 702 million euros (17.7 billion crowns) to the Czech Republic as part of the extraordinary recovery fund intended to mitigate the consequences of the economic crisis. The EU executive announced its approval for the payment of this money already in February. According to the commission, the Czech Republic has met the conditions in order to receive additional funding from the National Recovery Plan.

Today the Commission paid the Czech Republic a second payment of EUR 702 million in grants under the Recovery and Resilience Instrument. As with all other member states, the payments provided to the Czech Republic under this instrument are based on the results achieved and the implementation of the investments and reforms set out in the Czech recovery plan,” the European Commission said in a statement.

The Czech Republic submitted a request for the second payment last December 6. The European Commission then announced in February this year that the Czech Republic had “satisfactorily met 28 milestones and targets” and approved subsidies in the amount of 702 million euros. The commission approved the first regular payment to the Czech Republic already last February, when it was about subsidy in the amount of 928 million euros (23.5 billion crowns).

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The National Recovery Plan has six pillars: digital transformation, ecological transformation and physical infrastructure, education and labor market, research, development and innovation, public administration and health. Last September, the European Commission approved its revised form and, at the same time, an increase in the amount of money intended for the Czech Republic by 2.2 billion euros to 9.2 billion euros (232.5 billion crowns).. Of this, 736 million euros (18.6 billion crowns) is money from the REPowerEU project, which is to be used for investments in the distribution network, renewable sources and clean transport. The Czech Republic can draw money from the National Recovery Plan in nine payments.

The National Recovery Plan was created to mitigate the effects of the covid-19 epidemic and restart the economy with the use of European money from the EU Recovery and Resilience Instrument between 2021 and 2027. The primary goal of the Czech recovery plan is to increase economic prosperity and improve the quality of life.

Newstream CLUB magazine

How to create a legacy for future generations? The third issue of newstream CLUB magazine, which is currently being published, offers answers from the business world, as well as prominent personalities of social life.

It is on the cover of a business-lifestyle quarterly František Kinskya legendary nobleman who tells how in their family, not property is inherited, but responsibility and service.

The stars of the spring issue are among others Silke Horáková (Albatross), Ludek Sekyra (Sekyra Group), Zbyněk Frolík (Linet) or architect Václav Aulický or an artist Milan Knížak.

The magazine deals with the topics of long-term investments, the transfer of property within family clans, traditional Czech brands or how developers together with architects change the face of cities for many centuries.

The magazine provides inspiring reading that is intended to motivate readers to try their profession or hobby create things with a more lasting vision.

It is available in the PNS network and online. Newly also in electronic form in our e-shop.

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The article is in Czech


Tags: Czech Republic receive million euros European Commission


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