IIB held a meeting with diplomats
A meeting between members
of the Board and the Extraordinary and Plenipotentiary Ambassadors of the
member states to the Russian Federation took place in Moscow. For the first time Hungary — a country which in the nearest future intends to resume its full membership in the Bank — has
joined the event. The Russian Federation was represented by a Deputy Minister
of Foreign Affairs Aleksey Meshkov
The Heads of the diplomatic missions were
informed about the results of the Bank’s work for the past
nine months, its current and future targets including preparation for the upcoming
102nd meeting of the Council in November this year.
There was a detailed exchange of views on the IIB’s development where
the Ambassadors highly appraised the results of the Bank’s reforms. They particularly
welcomed the assignment of the second credit rating of «A3»by Moody’s — the highest rating for a financial
institution with headquarters in Russia. The diplomats commended the plans to significantly increase the Bank’s activities in its member states, including domestic bond
issues, the launch of its first regional branch in the EU (Bratislava) and the diversification of products and services'range.
Given social and political diversity of the
member states the IIB is focusing its activities on the issues of economic development
and cooperation. Such «modus operandi» enables the Bank to develop steadily in a time of current geopolitical
uncertainties. It also played an important role in the EU’s decision to withdraw
the Bank from the sanctions and became a key driver for the member states'support. Admittedly, both Hungary’s firm intention to join the IIB and a growing interest of other countries prove the above.
Potential opportunities to expand the resource
base due to the assignment of an investment rating were discussed during the
meeting. Member states were called to increase their involvement in this work. At the same time, the fact that some of them fell behind in the process of implementing
the decisions on the Bank’s development that
had already been taken was discussed separately. The Ambassadors agreed with the
need to cover those gaps in the nearest future and promised to additionally
work out the issues with their states.
Such meetings are now held on a regular basis.
The member states perceive these as an additional opportunity for informal
dialogue and a basis to strengthen cooperation between the representatives of the member states.