Czech Rep.: About Kc60m from EIB to cover spring flood damage -- government

News and Press Release
Originally published
Prague - The Finance Ministry proposed to use about Kc60m from a European Investment Bank EIB loan to cover damage caused by spring floods, and the government approved the proposal at its session today.

It is the rest of the money from the loan the EIB provided to remove flood damage in 2002.

The Czech Republic was granted a total of EUR400m (about Kc11.2bn) for the purpose in 2002.

A discussion of the Housing Fund budget draft for 2007 was interrupted at the request of Premier Jiri Paroubek.

The debate will likely be resumed next week, Local Development Ministry spokeswoman Radka Burketova has told CTK.

Local Development Minister Radko Martinek wants the fund's spending to be cut by 40 percent to some Kc5.63bn next year.

Martinek and Finance Minister Bohuslav Sobotka will be discussing the draft again, said Burketova.