State to raise capital of Czech Export Bank, EGAP.

By bne IntelliNews January 12, 2011
The government plans to raise the capital of Czech Export Bank (CEB) and Export Guarantee and Insurance Corporation (EGAP) by up to CZK 2bn this year, E15 daily reported. CEB capital will be hiked by CZK 998mn and that of EGAP by CZK 1bn as the government is seeking to ensure stronger support for local exporting companies. The state owns 72.9% in CEB, while the remaining 27.1% is held by EGAP. Previously, CEB capital was raised to CZK 4bn and the insurance capacity of EGAP to CZK 200bn. CEB provided CZK 42.8bn (EUR 1.7bn) in loans and guarantees to local export companies in January to November, up 92% y/y. EGAP signed a record-high of CZK 66.9bn in insurance contracts in 2010, up 8.3% y/y.

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335