May 5, 2020 / 8:30 AM / 23 days ago

EU approves 5.2 bln euro Czech loan guarantee scheme for exporters

BRUSSELS, May 5 (Reuters) - The European Commission approved on Tuesday 5.2 billion euro Czech loan guarantee scheme for large companies with export activities affected by the coronavirus outbreak.

“The measure will help these businesses continue their activity during and after the coronavirus outbreak,” EU Competition Commissioner Margrethe Vestager said.

The scheme will be accessible to large companies whose exports represent at least 20% of their yearly sales revenue. (Reporting by Jan Strupczewski)

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