The MPO has 497 million from EU grants for the regeneration of brownfields in Ostrava

Prague – The Ministry of Industry and Trade (MPO) has 497.3 million crowns from European subsidies for the regeneration of brownfields in Ostrava. The ministry expects to launch the support in the first half of next year. The ministry informed ČTK about this in a press release today. Brownfields are unused areas left by former factories or warehouses.

MPO, in cooperation with the Czech-Moravian Guarantee and Development Bank (ČMZRB), is preparing a new financial instrument, the Brownfield Fund of the Operational Program for Business and Innovation for Competitiveness, for small and medium-sized enterprises. "The Brownfield Fund is the first step to support fund financing in the Czech Republic. A similar principle is also being applied in the planned National Development Fund," said Deputy Prime Minister and Minister of Industry, Trade, and Transport Karel Havlíček (for ANO).

According to the MPO Deputy for European Funds Marian Piecha, the ministry wants to support projects in the program with favorable repayable financing that will transform brownfields into modern business infrastructure that will serve small and medium-sized enterprises.

The financial instrument will be managed by the investment ČMZRB, which will select a financial intermediary with experience in real estate and investment through a tender process. They will then manage investments into individual brownfield regeneration projects and their selection. The tender for financial intermediaries concluded last week.