Interview of the Chairman of the Board of the IIB Nikolay Kosov to the RBCC Bulletin

Interview of the Chairman of the Board of the IIB Nikolay Kosov to the RBCC Bulletin

Nikolay Kosov, Chairman of the Board of the International Investment Bank, talks about the Bank’s present and future.

Mr Kosov, in 2012 the International Investment Bank adopted a renewed strategy for development. Could you please comment on the results achieved over the last two years?

— July 2015 will mark the 45th anniversary of the International Investment Bank. This is a good occasion to share the IIB reformation results. The IIB 2014 performance results secure the new dimension of the Bank as a state-of-the-art multilateral development institution, demonstrating the success of the comprehensive reform and the first results of the renewed development strategy implementation. Most notably, this relates to the Long-term Issuer Default Rating A3, assigned by Moody’s. This is the highest rating among the financial institutions headquartered in Moscow. The Bank gained access to funding in the international market, raising funds, in particular, from the largest international financial groups. For the first time in its history, the Bank entered the debt market. Ruble-denominated bonds amounting to RUB 2 billion were placed in Moscow in April. The second issue was placed in December, this time in the amount of RUB 4 billion. In October the IIB debuted in the Bratislava Stock Exchange with euro-denominated debt securities, placing a EUR 30 million 5-year bonds issue. The resource base expansion allows successful implementation the plans for the new loan portfolio growth and product line development. As at the beginning of December this year, the volume of the loan portfolio exceeded EUR 224 million, and the projects for the total amount of EUR 400 million are in the pipeline.

The Bank also renewed its logo recently. Why was that done?

— The Bank reformation was logically concluded by renewal of its logo in 2014. While developing the new logo the succession was adhered to whilst being orientated towards the modern principles of the design, the functionality and the awareness. In its base it has a cut emerald, which symbolises wisdom, transparency, firmness, complexity — the qualities which correspond to the values of the conception of the IIB as a multilateral institution for development. The green colour reflects the ecological orientation which is already being carried out in the Bank’s operation.

How does the IIB interact with representatives of the international financial community?

— The IIB has become recognizable in the international financial community and economic sectors of member states. The Bank representatives take part in all major international financial events, such as the annual meeting of the International Monetary Fund; the annual session of the Association of Development Financial Institutions in Asia and the Pacific; activities of annual meetings of governing bodies of the Black Sea Trade and Development Bank (where IIB holds observer status), the Asian Development Bank and the European Bank for Reconstruction and Development. The IIB joined the Master Cooperation Agreement with the International Financial Corporation (IFC), which introduced the Bank to the «club» of the top 19 leading development institutions. The IIB became a member of the Banking Association for Central and Eastern Europe (BACEE). The Bank is continuing to develop the institute of observers. This year this status has been granted to the VTB international group and the Eurasian Development Bank.

Read the full interview at the source