On March 1, 2019, the second meeting of the Board of Directors of International Investment Bank was held in Moscow. The event was attended by authorized representatives of all member states, members of the IIB Management Board and heads of key departments of the Bank.

Opening the meeting, the Chairperson of the IIB Management Board Nikolay Kosov and his deputies presented a brief report on the activities of IIB in 2018 to the participants, which became a record performance year in many key indicators, particularly, in the volume of the loan portfolio, including an increase in trade finance operations, growth in net profit and assets, geographical and currency diversification of funding sources. 2018 being the first year of the current five-year strategic cycle, was also marked by a number of fundamentally important decisions taken by shareholders to ensure achievement of the Bank’s ambitious development goals laid out in the Development Strategy in a medium and long term perspective – relocation of the headquarters of International Investment Bank from Moscow to Budapest and a new round of capitalization planned until 2023.

The management of the Bank and the Hungarian representative informed meeting participants about the current status of ratification procedure of the Agreement on the establishment of the International Investment Bank Headquarters in Budapest. It is planned that the completion of intergovernmental procedures in the nearest future will allow the Bank to receive a new European address by May this year.

The Board of Directors approved the Bank’s participation in financing of two investment projects in the Czech Republic and in Hungary. Both projects will be implemented in collaboration with other international financial institutions.

An updated package of internal regulatory documents on the issues of combating money laundering and financing of terrorism was also approved within the course of the meeting.

The next meeting of the Board of Directors of International Investment Bank will be held in Moscow on May 31, 2019.