Czech Republic breaks free of EBRD support

The Czech Republic has become the first country to opt out of funding from the European Bank for Reconstruction and Development (EBRD), the development bank set up to invest in the central and eastern European transition economies.

The EBRD said on Tuesday it would stop investing in new projects in the Czech Republic from 31 December after the Czech authorities said that they no longer needed the development bank's support.

Mirek Topolanek, the prime minister of the Czech Republic, said in Pr

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