For the first time ever, the conference of the Multilateral Development Banks (MDB) "IFRS-9 for Multilateral Development Banks" took place in Moscow dedicated to the improvement of global practices of financial reporting and the implementation of the new IFRS-9 standard.

The event was organized by the IIB with the support from S&P Global and Finastra: a Multilateral Development Bank, a rating agency and one of the leading companies in the area of innovative financial technologies.

The representatives of other major MDBs, including Asian Infrastructure Investment Bank (AIIB), Black Sea Trade and Development Bank (BSTDB), European Investment Bank/ European Investment Fund (EIB/EIF) Group, Eurasian Development Bank (EDB), New Development Bank (NDB), Islamic Development Bank (IsDB), African Development Bank (AfDB), as well as experts from rating and consulting agencies, and representatives of the International Accounting Standards Board all participated in the conference.

At the plenary session of the conference, the Chairman of the IIB Board, Mr. Nikolay Kosov, reviewed the MDBs’ activities related to the implementation of IFRS-9 reporting standards and specifics of their interaction with rating agencies and regulators in this context.

Kindly find the link with the text of the speech.