Prague, Feb 4 (CTK) - The Finance Ministry is ready to increase the registered capital of the Czech Export Bank (CEB) by as many as Kc2bn within its fight against the financial crisis, Deputy Finance Minister Ivan Fuksa said today.
Within the first phase to be implemented this year, the CEB's capital will be increased by Kc1bn to support projects worth around Kc25bn, Fuksa said.
"In the first round, it is proposed to take a sum of Kc650m from the budget. Another Kc300m should raise the capital in the following months," Fuksa said.
Another Kc1bn is available but it is not yet clear whether it will be used this year. "The state budget reckons with it," Fuksa said.
Further anti-crisis measures include rising the insurance coverage at EGAP for all types of insurance of export loans from the current 95 percent up to 99 percent or providing Czech-Moravian Guarantee and Development Bank with Kc1.1bn for loans to small and mid-sized companies in industry and the construction sector.
The government wants to present the package of proposed anti-crisis measures to the current session of the Chamber of Deputies.
According to Finance Minister Miroslav Kalousek, the government measures will focus mainly on maintaining the employment rate and making loans accessible to small and mid-sized companies.
The CEB last year granted loans and guarantees worth Kc20.5bn to Czech exporters, investors and their foreign business partners, which was Kc500m more than in 2007.