1 Min Read
PRAGUE, March 3 (Reuters) - Czech Export Bank has put a limit on financing for companies' existing projects in Ukraine and will not provide funds for any new projects due to the political situation in the country, a spokeswoman said on Monday.
Czech Export Bank spokeswoman Vera Duskova said the bank had stopped the possibility for companies with projects in Ukraine to raise limits on existing credit lines.
"And there won't be financing for possible new projects," she said. "Further action will depend on the development of the situation. If it calms down, (the limits) will be revoked."
Czech Export Bank had loans worth 2.3 billion Czech crowns ($116.3 million) to companies in Ukraine in 2012, according to its most recent annual report.