Czech government finalizing plans for CZK 182 billion in EU Covid-19 funds
The Czech government will present its plans on how to spend CZK 182 billion in EU funds that it's been promised to help fight the economic impact of the coronavirus crisis. The daily Hospodarske noviny writes that the government has drawn up a National Renewal Plan under which CZK 118 billion of the total will be put towards the country's physical infrastructure and to green transit project. HN reports however that the government has simply gathered together a collection of existing projects rather than coming up with anything new. It's part of a package of €750 billion the European Union has promised EU members through subsidies and loans. What's useful about these funds for the Czech Republic is that it won't have to act as a co-investor in the projects it uses the EU funds for. The government plans to put at least CZK 15.8 billion of the total towards the construction of high-speed rail lines, while CZK 25 billion will be invested into digitizing the state's bureauracy.