Czech development fund, backed by banks, will have $300 million in initial funds
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PRAGUE (Reuters) - A Czech national development fund, backed by the country's four biggest banks, should get underway by the middle of 2020 and will have initial financing of 7 billion crowns ($299.27 million/239.57 million pounds), Industry Minister Karel Havlicek said on Thursday.Banks signed a memorandum of cooperation on Thursday on launching the fund, which will be aimed at investing into projects in infrastructure, education and healthcare, using leverage to multiply the initial funding by..