EU funds: Almost a trillion crowns for Czechia

After a five-day-long European Summit, leaders have agreed on the amount of money for each and every country. Within the next seven years, the Czech Republic will receive 950 billion crowns from the crisis fund of the EU. It can also use an additional 410 billion crowns on loans.

The result of the Summit is good for the Czech Republic, according to Prime minister Andrej Babiš (ANO). Compared to the just ending seven-year period it may now receive almost four billion more in this upcoming period. The budget offers loans as well, though it is not clear if the Czech Republic will choose to access them, according to Babiš. It will depend on the specific conditions that will be set by the EU.

What is now essential, according to the Prime minister, is the re-structuralization of the Czech economy. It is necessary, he claimed, to focus more on investments and health care and speed up the digitalization process.