Investment & Fund Management

The European Investment Fund (EIF) and Komer?ní banka (KB) entered into a guarantee agreement aimed at supporting Czech businesses in the cultural and creative sectors through the new Cultural and Creative Sectors Guarantee Facility under the EU's Creative Europe programme. This initiative addresses the specific challenge faced by SMEs in these sectors, which often struggle to access financing due to the perceived risks associated with their intangible assets and the limited size of their markets.

The tailored solution provided through this agreement allows KB to extend EUR 25 million in loans over three years to approximately 700 SMEs in the cultural and creative sectors, including sub-sectors such as audio-visual, digital games, design, and startups in the creative digital content industry. This financial support is expected to enable these companies to scale up their activities and undertake larger projects in various creative fields, including film, music, and video games.

The guarantee facility not only facilitates access to finance but also includes capacity-building activities for financial intermediaries, equipping them with the necessary expertise to assess the unique business models and credit risks associated with the cultural and creative sectors. This comprehensive approach aims to enhance the lending capabilities of financial institutions, ultimately fostering growth and innovation within these dynamic sectors.