Ministry: Czech Republic to fail to source over 24 billion in EU funds this year

The Czech Republic will this year fail to source up to 24.4 billion crowns in EU funds, deputy regional development minister Daniel Braun told reporters on Wednesday. The programmes that are most threatened by the likely losses include the environment, research and development for innovations, and the northwest and Prague operational programmes. Ministry officials said the losses were partly due to the depreciation of the Czech crown by the Czech National Bank. The Czech Republic’s record of drawing EU funds is the worst of the entire bloc; last year, Czechs failed to source some 10 billion crowns.