Consumer lender Home Credit announced on Thursday it will withdraw from a controversial partnership agreement with Charles University announced earlier this week.
A spokesman for the company said Home Credit did not want to be drawn into irrational debates about the nature of the cooperation before it had even begun.
Hundreds of Charles University students and faculty had called on the rectorate to cancel the agreement, accusing the company of lending irresponsibly, thereby adding to the personal debt crisis.
Home Credit is part of the PPF Group controlled by Czech billionaire Petr Kellner. Under the cooperation agreement, the consumer lender was to give Charles University half a million crowns annually, mainly to the Faculty of Mathematics and Physics and the Institute of Economic Studies.
Olga Lomová: Western misconceptions could let China export much of its system and ultimately contribute to our enslavement
Hitler no ‘gentleman’, but court rules Czech state need not apologize for president’s claim Ferdinand Peroutka said so
Bertha von Suttner – Prague-born peace campaigner whose ideas on cooperation and disarmament continue to have lasting effect
Beijing ends agreement with Prague – but can spat harm Czech capital?
Czechia now ahead of Spain in GDP per capita, but still below EU average
Czech agencies smash spy ring operated by “very aggressive” Russians
Prague City Hall terminates memorandum with e-scooter operator Lime
Rare Terezín concentration camp artefacts found in attic of private home