Prague CVUT is getting rid of billions of dollars of debt. The previous government refused, now the school is one step away from success
At the opening ceremony of the aircraft engine test facility in Hradec Králové, the then Dean of the Faculty of Mechanical Engineering of the Czech Technical University Michael Valášek (left) and former US Ambassador Stephen B. King. It was to be a project that would go down in the history of the Czech Technical University. The cooperation of the Faculty of Mechanical Engineering with GE Aviation Czech on the development of aircraft engines included the construction of test laboratories and other scientific facilities at a cost of two billion crowns. In the end, however, the prestigious cooperation threatened to drag the school into financial problems. The project was left behind by outstanding state financial aid
Source : https://archiv.hn.cz/prazska-cvut-se-chce-zbavit-miliardoveho-dluhu-minula-vlada-to-odmitla-ted-muze-skola-uspet