The Council of Europe Development Bank (CEB) has approved a € 300 million loan to the Czech Republic to finance health expenditure to combat the spread and impact of the COVID-19 pandemic.
The Czech Republic was quick to undertake COVID-19 protective measures in January before any confirmed cases were reported in the country. Since late February more than 6 700 confirmed cases and 180 deaths from the virus have been registered.
The CEB loan will support the Czech government in furthering its efforts to mitigate the spread and impact of COVID-19 by covering 90% of the total cost required in the immediate term. It will enable the acquisition of medical material and equipment, including tests, ventilators, and respirators as well as protective equipment for frontline staff. The loan may also cover the rehabilitation and conversion of spaces, medical units, and hospitals to meet current emergency healthcare needs.
CEB Governor Rolf Wenzel said: “In light of this unprecedented pandemic, the Bank has mobilised additional human and financial resources to ensure that it is in a position to assist its member countries in the best possible way.”
The loan provided to the Czech Republic is part of a first fast-track package of close to € 1.7 billion supporting projects in health and MSME financing in countries affected by the pandemic.
Original source: CEB
Published on 21 April 2020
