International Investment Bank
 | |
| International financial organization | |
| Founded | July 10, 1970 |
| Headquarters | Russia, Moscow |
Number of locations | European Regional Office - Slovakia, Bratislava |
| Total assets | EUR 922.0 million |
| Total equity | EUR 1.300 billion (paid in capital EUR 313 million - as of March 09, 2016) |
| Website |
www |
International Investment Bank is a multilateral development bank established in 1970 in order to promote economic development of its member states and cooperation between them. The Bank carries out its activities based on the intergovernmental Agreement establishing the IIB and its charter, registered with the United Nations Secretariat. The headquarters is located in Moscow, Russia. The European regional office is in Bratislava, Slovakia.
Mission
The IIB’s mission is to promote social and economic development, growth of the population prosperity and economic cooperation between its member states with a focus on support for small and medium-sized enterprises. The IIB grants loans primarily through leading national financial institutions, development banks and export-import banks and agencies, and it also participates in co-financing and syndications with other international and national financial institutions. The Bank offers: intermediate financing through selected financial institutions, project and trade finance, documentary products, equity investments, investments in funds.
Member states
The IIB is open to new members sharing its goals and vision. Its statutory documents allow for the admission of either sovereign states or international organisations as IIB’s members.
Management
On the daily basis the Bank is managed by the IIB Board. The Chairman of the Board is Nikolay Kosov (appointed in September 2012). As the Bank is an international financial institution it is strategically guided and supervised by the IIB Council – the highest governing body of the Bank. In the Council, each member state, represented by a high-level official, has one vote, disregarding the countries’ shares in IIB’s capital.
Capital
The authorized capital of the Bank is EUR 1.300 billion.
The paid-in capital of the Bank is EUR 313 million.
Ratings
Moody's - "Baa1"; Fitch - "BBB-"; Dagong - "A"; S&P Global Ratings - "BBB"
History
The agreement establishing the Bank was signed by the member states on July 10, 1970 and registered with the UN Secretariat under number 11417. The Bank began its activities on January 1, 1971. The member states of the Bank at the time of its foundation were: the People’s Republic of Bulgaria, the People’s Republic of Hungary, the German Democratic Republic, the Mongolian Democratic Republic, the People’s Republic of Poland, the Socialist Republic of Romania, the Union of Soviet Socialist Republics, and the Czechoslovak Socialist Republic.
The IIB’s key objective at that time was granting long-term and medium-term loans for implementation of joint investment projects and development programs by several interested members of the Bank and providing financing to construct facilities contributing to development of the national economies of the IIB member states. During the ‘soviet’ period of its history, the Bank financed investment projects in the amount exceeding EUR 7 billion.
With the disintegration of the Socialist Bloc, the IIB largely lost its purpose and was stagnating for nearly two decades. In 1991, the German Democratic Republic (GDR) terminated its membership in the Bank, as the GDR ceased to exist as an international entity. In 2000, Poland and Hungary declared their intentions to cancel their membership in the Bank (Hungary rejoined the IIB in May 2015).
In 2012, a new management arrived at the Bank, which received a mandate from IIB’s shareholders to start the complex reformation of the Bank.
In 2014, for the first time in its history the IIB entered debt capital markets. For the present moment, the Bank has issued bonds in Russia, Slovakia and Romania. In April 2015, IIB opened its first European regional office in Bratislava, Slovakia.