ČTK: 400 billion in funding could still be needed for renovation of pre-fab apartments

The Czech news agency, ČTK, has reported that the state could still have to provide more than 400 billion crowns (roughly 19.3 billion US dollars) in funding for the renovation of the country’s pre-fab apartment buildings – part of its so-called Panel programme. It based the number on an estimate by the head of Association of Czech and Moravian Housing Co-operatives; the number is higher than the 200 – 300 billion projected by the head of the State Fund for Housing Development. There are some 1.2 million pre-fab apartments in the Czech Republic: around 900,000 are in need of renovation, ČTK said.