May 20, 2019 / 9:26 AM / 4 months ago

Czech PM: banks have agreed in principle on capital for new fund

PRAGUE, May 20 (Reuters) - The biggest Czech banks have agreed in principle to contributing starting capital of 6 billion crowns ($259.92 million) to a proposed national development fund, Prime Minister Andrej Babis told reporters on Monday.

Babis has proposed the fund as an alternative to calls from his junior ruling partner to implement a sector tax on banks, which he has opposed. ($1 = 23.0840 Czech crowns) (Reporting by Robert Muller, writing by Jason Hovet)

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