Mládek: State should loan OKD up to CZK 1 billion

The state should lend bankrupt mining company OKD up to CZK 1 billion, the minister of industry and trade, Jan Mládek, said on Wednesday morning. A day earlier Finance Minister Andrej Babiš said he was looking into the conditions under which the state could make loans to OKD. Mr. Babiš put forward a figure of CZK 400 million that the firm would need to keep operating until August; however, Mr. Mládek said he did not know how his cabinet colleague had arrived at that amount. The industry minister said that only the state would risk making a loan to OKD but there was no 100-percent guarantee it would be repaid.

Author: Ian Willoughby