Czech Republic to provide IMF with 1,3 billion euro loan for countries in trouble

The Czech Republic will provide a loan worth 1.3 billion euros (around 27 billion crowns) to the International Monetary Fund for possible help to countries hit by the financial crisis, the internet daily E15 reported on Friday, citing Finance Minister Miroslav Kalousek. The loan is the Czech contribution to a trillion dollar aid package which the G20 countries agreed on at their London summit earlier this month. The Czech contribution should be drawn from foreign exchange reserves of the Czech National Bank.