Saturday 5th June, 2010
ARTICLE
Flood bonds approved
The Chamber of Deputies approved the issuing of government bonds worth CZK 10 bln, making it possible for the government to cover the damage caused by the subsiding floods in Moravia. The European Investment Bank is supposed to buy the bonds from the government. However, Finance Minister Eduard Janota does not expect the government to borrow the whole mentioned sum. The minister said that the extent covered by this bond bill in connection with the 2010 floods would be CZK 3 bln at the most. Source: HN 20
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