€ 184 MILLION CZECH RENT COMPENSATION APPROVED

This is the second rent rebate approval by the European Commission. The first was the € 453 million Swedish rent rebate for hotel, restaurant and retail tenants (epf20-28 of 16.04.2020). In the Swedish case, the state covered "up to 50% of rent reductions negotiated between tenants and landlords"; in this case, the state pays 50% of the original rent on the condition that the owner of the premises agrees on a 30% reduction of the original rent. Both cases concern rent due for April through June.

Details of Czech scheme under epf20-42 of 03.06.2020