Delegation of the International Investment Bank headed by Deputy Chairman of the Board Jiri Bobrek has visited the Czech Republic. During the meetings, which were held in the Ministry of Finance of the Czech Republic, the delegation of the IIB presented to the First Deputy Minister Mr. Mincic and Deputy Minister, Head of the delegation of Czech Republic in IIB’s Council Mr. Zidek the results of the meeting of the Expert Committee of authorized representatives of the heads of the member states' delegations, which was held in March. The parties thoroughly discussed the work which is being done in the Bank in order to obtain an international credit rating and a number of steps to be taken also on the part of member states. In particular, the question of recapitalization was discussed as well as the question of other instruments of supporting the dynamic changes in IIB. IIB’s delegation also presented the results of the work on implementing the Basel II Standards in the Bank.

Senior officers of the Czech Ministry of Finance approved of the steps taken by the IIB’s management, aimed at the implementation of the renewed strategy of the Bank, in particular, the plans which were considered at the meeting of the Expert Committee concerning the renewal of the organizational structure, creation of the new system of personnel motivation, readjustment of the «old» loan portfolio.

Mr. Bobrek also informed on prospective projects with the participation of Czech business which are being studied in the Bank now, including involvement of the multilateral cooperation among member states of the Bank.

Apart from official meetings in the Czech government the delegation of the IIB held a series of negotiations with the business circles, dedicated to the support of export of Czech production to the markets of the Bank’s member states.