Radical shake-up of Czech Export Bank planned

A fundamental shake-up of two pillars of Czech state export support is supported by the Ministry of Industry and Trade, according to the news agency ČTK.

Under the plans the Czech Export Bank, which gives soft loans to help exports in risky countries, would become a daughter company of the state export insurer, EGAP.

The ministry is seeking a radical transformation at both institutions. The mooted transformation would have to be approved by the Czech National Bank and the government.