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  • Czech Republic: EIB renews cooperation with Komerční Banka to support SMEs and midcaps investing in youth employment

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  • EIB renews cooperation with Komerční Banka to support SMEs and midcaps investing in youth employment in the Czech Republic

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  • The EIB has renewed its cooperation with Komerční Banka (KB) and has signed a new loan of EUR 30 million under the “Jobs for Youth” Initiative. This loan will continue to improve the access of SMEs and midcap companies to long-term financing and improve the conditions for tackling youth unemployment.

     

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  • The European Investment Bank (EIB) has renewed its cooperation with Komerční Banka (KB) and has signed a new loan of EUR 30 million under the “Jobs for Youth” Initiative. This loan will continue to improve the access of SMEs and midcap companies to long-term financing and improve the conditions for tackling youth unemployment.

    EIB Vice-President Vazil Hudák, responsible for lending activities in Central Europe, stated: “With the loan signed today we are again addressing youth unemployment, which is one of the major challenges in Europe. The EIB is joining forces for the third time with Komerční Banka in order to improve the situation of unemployed young people in the Czech Republic and provide them with better job prospects. At the same time this will strengthen the position of the SME and midcap sector, which is the engine of the Czech economy in terms of economic growth and creation of new job opportunities.”

    Albert Le Dirac’h, Chief Executive Officer of Komerční Banka, who won the Best Banker of the Year award and signed the loan together with Mr Hudák, commented: “Youth employment is essential to ensure our common future. Young people often bring new views and ideas to companies and contribute to their sustainability. So we are pleased to help young people embark on their working lives by partially compensating the costs associated with their training and induction process by EuroPremium Young Loan Programme. This new programme further extends KB’s product offer prepared in cooperation with international financial institutions, which is highly appreciated by our clients."

    Improving the performance of Europe’s young generations on the labour market is what the EIB Group is targeting through our “Skills and Jobs – Investing for Youth” programme. The EIB signed the first loan of this kind in the Czech Republic with Komerční Banka in 2014. This initative is already bearing fruit and helping both to link theoretical education of youths with practical skills in the form of training and practice, and support the direct employment of young people. A Czech SME, Ecos Choceň, benefited from the programme and a video was published on the EIB website.

    The previous EIB loan of EUR 95 million granted to Komerční Banka in February 2016 was fully allocated to finance SME and midcap projects that contribute to youth employment:

    1. By hiring people under the age of 29
    2. Offering vocational training programmes or internships or cooperating with a technical college, school or university.

    Companies can obtain an interest rate advantage.


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  • Last modified-on: 21-12-2016