Brussels - The month of August could see CZK 4 billion (EUR 155 million) coming from the European Investment Bank (EIB) to cover damages caused by recent flash floods, Finance Minister Eduard Janota told journalists at a EU finance ministers meeting in Brussels on Tuesday.
These funds would be generated by selling state bonds to the EIB and a large sum will go to recovering the transport infrastructure.
According to the minister, it will be the Czech government that will decide about the fund spending, not MPs.
"In the pre-election times it could create an uneasy situation and could complicate the whole process of post-flood clean-up works. I want to avoid that," Janota added.
The Czech government has been engaged in a debate with the EIB about the sale of the bonds prior to the floods.
