{"id":8008,"date":"2019-09-19T16:06:51","date_gmt":"2019-09-19T15:06:51","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=8008"},"modified":"2019-09-19T18:20:26","modified_gmt":"2019-09-19T17:20:26","slug":"czech-national-development-fund-secures-7-billion-from-banks","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/","title":{"rendered":"Banks To Invest CZK 7 Billion In National Development Fund"},"content":{"rendered":"<p>A <a href=\"https:\/\/praguebusinessjournal.com\/banks-accept-babiss-fund-plan-to-avoid-new-tax\/\">Czech national development fund<\/a>, backed by the country&#8217;s four biggest banks (CSOB, Komercni banka, Ceska sporitelna and UniCredit Bank), is expected to launch by the middle of 2020 with initial financing of 7 billion crowns.<\/p>\n<p>&nbsp;<\/p>\n<p>Banks signed a memorandum of cooperation on Thursday on launching the fund, which will be aimed at investing in projects in infrastructure, education and healthcare, using leverage to multiply the initial funding.<\/p>\n<p>&nbsp;<\/p>\n<p>Prime Minister Andrej Babis said he expected other companies, not just banks, would join the fund. <a href=\"https:\/\/praguebusinessjournal.com\/babis-wants-banks-to-pay-dividends-to-state-fund\/\">Babis proposed the fund in May<\/a> as a counter to Social Democrats&#8217; demands to introduce a bank sector tax to raise funds for the budget.<\/p>\n<p>&nbsp;<\/p>\n<p>Via <a href=\"https:\/\/www.reuters.com\/article\/czech-banks-fund\/update-1-czech-development-fund-backed-by-banks-will-have-300-mln-in-initial-funds-idUSL5N26A4TH\">Reuters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Czech national development fund, backed by the country&#8217;s four biggest banks (CSOB, Komercni banka, Ceska sporitelna and UniCredit Bank), is expected to launch by the middle of 2020 with initial financing of 7 billion crowns. &nbsp; Banks signed a memorandum of cooperation on Thursday on launching the fund, which will be aimed at investing &#8230; <a title=\"Banks To Invest CZK 7 Billion In National Development Fund\" class=\"read-more\" href=\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\" aria-label=\"Read more about Banks To Invest CZK 7 Billion In National Development Fund\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":5092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[3],"tags":[15],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banks To Invest CZK 7 Billion In National Development Fund - Prague Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks To Invest CZK 7 Billion In National Development Fund - Prague Business Journal\" \/>\n<meta property=\"og:description\" content=\"A Czech national development fund, backed by the country&#8217;s four biggest banks (CSOB, Komercni banka, Ceska sporitelna and UniCredit Bank), is expected to launch by the middle of 2020 with initial financing of 7 billion crowns. &nbsp; Banks signed a memorandum of cooperation on Thursday on launching the fund, which will be aimed at investing ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"Prague Business Journal\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/praguebizjournal\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-19T15:06:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-19T17:20:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i1.wp.com\/praguebusinessjournal.com\/wp-content\/uploads\/2018\/05\/Financial-Chart-.jpeg?fit=1733%2C1300&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"1733\" \/>\n\t<meta property=\"og:image:height\" content=\"1300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Petr Dubinsky\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@prague_business\" \/>\n<meta name=\"twitter:site\" content=\"@prague_business\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Petr Dubinsky\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\"},\"author\":{\"name\":\"Petr Dubinsky\",\"@id\":\"https:\/\/praguebusinessjournal.com\/#\/schema\/person\/762369c091a1538e6b4936082090c056\"},\"headline\":\"Banks To Invest CZK 7 Billion In National Development Fund\",\"datePublished\":\"2019-09-19T15:06:51+00:00\",\"dateModified\":\"2019-09-19T17:20:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\"},\"wordCount\":121,\"publisher\":{\"@id\":\"https:\/\/praguebusinessjournal.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/praguebusinessjournal.com\/wp-content\/uploads\/2018\/05\/Financial-Chart-.jpeg?fit=1733%2C1300&ssl=1\",\"keywords\":[\"Andrej Babi\u0161\"],\"articleSection\":[\"Politics\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\",\"url\":\"https:\/\/praguebusinessjournal.com\/czech-national-development-fund-secures-7-billion-from-banks\/\",\"name\":\"Banks To Invest CZK 7 Billion In National Development Fund - 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