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“This programme is truly groundbreaking. For the first time in the Czech Republic, the public sector, a bank and a foundation have created a coordinated framework so that non-profit organisations no longer have to face uncertainty with empty accounts each year as they wait for grants. This is not a one-off form of assistance, but a new instrument providing the non-profit sector with assurance and stability at the most critical time of the year. I am convinced our initiative is setting a new standard for the support of social services, which may also serve as inspiration for other cities and regions,” said Deputy Mayor of the City of Prague, Alexandra Udženija.
The programme was implemented in an exceptionally short timeframe and required close coordination between the City of Prague, PPF banka, the PPF Foundation and the non-profit organisations themselves. The process included onboarding, the opening of bank accounts, the conclusion of loan agreements, and the actual disbursement of funds.
“We anticipated strong interest in these interest-free loans and I really appreciate how smoothly the pilot round of this new joint scheme proceeded. Thanks are due not only to my colleagues at PPF banka, but also to the City of Prague and the PPF Foundation,” said Petr Jirásko, Chief Executive Officer of PPF banka.
The programme is an excellent example of how effective cooperation can be between the public, private and non-profit sectors in addressing current societal challenges. It also confirms that swift and efficient assistance is possible even in complex circumstances. The stability this instrument provides to the non-profit sector ultimately translates into higher quality and continuity of care for thousands of Prague residents who rely on the services of these organisations on a daily basis.
“Cooperation with the City and the PPF Foundation has resulted in a tremendous change for us after years of uncertainty in the early months. The entire process was incredibly fast, flexible and administratively straightforward. No complicated paperwork – just clear and efficient communication that enabled us to secure financing on very favourable terms,” said Iveta Pešková, Director of PROSAZ. “The greatest benefit of all is that our staff no longer have to worry about cash flow and can fully focus on our clients. Personal assistance for people with disabilities is a service required every day, and thanks to this loan we are able to provide support continuously and without disruption.”
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The programme, aimed at strengthening the financial stability of non-profit organisations providing social services, was established through the joint efforts of the City of Prague, PPF banka and the PPF Foundation.
It is based on financial support in the form of interest-free loans, enabling selected social service providers to bridge the period from the beginning of the year until the disbursement of grants by the City of Prague and, where applicable, the Ministry of Labour and Social Affairs. This instrument eases pressure on organisations’ cash flow and the associated need for commercial financing, thereby contributing to their overall stability and sound financial management.
