Czech Republic interested in EU recovery loan, says prime minister

The loan can be increased to up to 11 billion euros, depending in final conditions set by the EU, Fiala said. The government will also review its national recovery plan, Fiala said.

The Czech government is interested in a loan from the European Union's Recovery and Resilience Facility to help the country's economy, which has been hit by the COVID-19 pandemic and the war in Ukraine, Prime Minister Petr Fiala said on Wednesday. The EU set up the Recovery and Resilience Facility of 724 billion euros ($784 billion) in 2021, split between grants and loans that it will jointly borrow and spend until 2026 to help economies rebound from the COVID-19 slump.

"We will confirm to the European Commission by the end of March our preliminary interest in a loan worth 2.9 billion euros at least," Fiala said after a regular government meeting. The loan can be increased to up to 11 billion euros, depending in final conditions set by the EU, Fiala said.

The government will also review its national recovery plan, Fiala said. ($1 = 0.9234 euros)

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