(Czech Radio, Prague, 15 January 2014) Two state controlled Czech export credit and insurance institutions are at the centre of plans to boost the country’s export growth. But an expected strengthening of their role would appear to depend on dealing with problems from the recent past. Czech police swooped on the Prague headquarters of both institutions in dawn raids on January 15. State insurance company EGAP’s spokeswoman said police were primarily interested in contracts concerning around 10 export projects, which likely included the already well publicized problems concerning insurance for a Czech exporter to build glass works in Russia and Ukraine. The daily Lidové Noviny reported that one of the cases under investigation is the crashed deal to sell three Boeing 737 aircraft owned by Czech Airlines to Armenian airline Armavia.The incoming coalition government made up of Social Democrats, ANO, and the Christian Democrats has pledged to expand the role of ČEB and EGAP and use them to the utmost to help direct Czech exports away from the slumbering economies of the European Union to the high growth likes of Brazil, Russia, India, China, and South Africa.
