Ambassadors’ summit in International Investment Bank

Ambassadors’ summit in International Investment Bank

A meeting with the Extraordinary and Plenipotentiary Ambassadors of the member states of the IIB in the Russian Federation was held in International Investment Bank. The occasion was dedicated to the results of the Bank’s work in 2013 and the discussion of issues on the upcoming 101st meeting of the Council of the IIB in May.

There was a considerable and detailed exchange of views regarding the ways of the development of the IIB on the basis of the positive results, which the Bank acquired during its complex renovation. New opportunities of the enlargement of the resource base due to the obtainment of the investment credit rating were presented. Particular attention was given to the discussion of issues regarding the renovation of the constituent documents. Such a task is the final element in the relaunching of the International Investment Bank as a multilateral financial institution for development. A renovation of the constituent documents will also be a considerable reputational factor as Fitch Ratings agency in its review mentioned it as one of the main factors to gain a higher credit rating.

The Ambassadors stated that there is a necessity to accept the constituent documents in such a version in which they were sent to the member states of the Bank and assured that they will assist in undergoing all the necessary inner state procedures in their countries for their early approval.

The Heads of the diplomatic missions highly appreciated the results of the qualitative"relaunch" of the IIB in 2013. They noted evident success in the practical implementation of its renewed mission- the support of small and medium enterprises in the IIB’s Member States. They also expressed full support to the plans of the realization of the financial agenda of the Bank.