The Parliament approved the Flood Bonds Act for raising funds to provide aid in relation to the flood damages in Moravia. The Act, published under No. 162/1997 Coll., enables to the Ministry of Finance to issue state bonds up to Ke 5.0 billion with 15 years maturity. Currently bonds are almost fully taken up, primarily by Czech citizens and companies. The next issue is expected at the end of August.
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