PM says country must invest in flood prevention

The Czech Republic will need to invest an estimated 40 to 50 billion crowns into flood prevention in the coming years, Prime Minister Jiri Paroubek said at a press conference in Prague on Thursday. The money is expected to come mainly from state coffers, possibly also from the European Investment Bank. The prime minister said that experts would need to consider the most efficient means of protection, such as the construction of small dams which would not only hold back floods but provide water during periods of drought. The government has earmarked 5 billion crowns to cover the cost of damages caused by this year's floods.