Romania increases its capital share in IIB

July 13, 2018

Romanian Government has increased its share in paid-in capital of the International Investment Bank (IIB) up to 7,04 %. Additional installment in the amount of EUR 4 million was received by the Bank on July 12, 2018.

As a result of the operation Romanian share in IIB increased to 22.45 mln euros that has made it fifth largest shareholder of the Bank. The transfer of funds took place a month after IIB 109 Council Meeting in Yaroslavl, where the need for additional capitalisation was heavily accented with a view to provide long-term development of the institution, including further increase of the investment volumes and loan portfolio within the new 5 year strategic period launched at the beginning of 2018.

“Additional capitalisation of IIB by the Romanian side is a proof of Bucharest’s trust and confidence in our abilities to efficiently implement the new growth strategy for 2018-2022, based on positive results of the Bank’s reform and relaunch of activities”, noted Alexandru Florescu, Acting Chairman of the IIB Board, “I am certain that other shareholders are of the same opinion and will continue to show comprehensive support for our Bank”.

IIB operations in Romania have been one of the most dynamic directions in the Bank’s activities. Current volume of the Romanian loan portfolio exceeds 78 mln euros. IIB has also become an active player in the Romanian capital market, contributing to its vast development as part of IFI mandate implementation. As an example, IIB became the first multilateral development bank to issue euro denominated bonds in the Bucharest Stock Exchange.