During his visit to Prague today, Mr. Wolfgang Roth, Vice-President of the European Investment Bank (EIB), Luxembourg, signed a loan with the Czech Minister of Finance, Mr. Bohuslav Sobotka, for EIB's participation in the financing of repairs of damages caused by the floods of August 2002.
EIB will lend a total of EUR 400 million to cover part of the State budget needs for rebuilding infrastructure damaged by the floods in the Czech Republic. The loan conditions are in line with EIB's support for the other Central European countries hit by the August 2002 floods and share the same special financial terms, including 30 years maturity and seven years grace period. The funds provided through the framework loan will be made available by Czech Government to various ministries and public [...]