News by country: Republic of Cuba

Relocation of IIB headquarters to Hungary: Host Country Agreement is signed

Relocation of IIB headquarters to Hungary: Host Country Agreement is signed

On February 5, 2019, Deputy Prime Minister of economic policy, Minister of Finance of Hungary Mihaly Varga and the IIB Chairperson of the Management Board Nikolay Kosov signed the Agreement between the International Investment Bank and the Government of Hungary regarding the Headquarters of the International Investment Bank in Hungary. This document, having strategic importance for further successful development of the Bank, confirms a high status of IIB as an international organization with…  Read more
Inaugural Board of Governors Meeting: new milestone in institution’s development

Inaugural Board of Governors Meeting: new milestone in institution’s development

On December 3-4, 2018 in accordance with the new statutory documents that entered into force in August this year first meetings of the Board of Directors and the Board of Governors of the International Investment Bank (IIB) took place in Varadero (Republic of Cuba). The scale of decisions taken significantly empowers the Bank and allows for its further intensive growth in the long-term. The Board of Governors voted for a relocation of IIB Headquarters to Budapest from Moscow. As a…  Read more
Focus on integration: IIB strengthens economic cooperation between member states

Focus on integration: IIB strengthens economic cooperation between member states

On the sidelines of the joint meeting of the Board of Governors of International Investment Bank (IIB) and of the Council of the International Bank for Economic Cooperation (IBEC) a Memorandum of understanding was concluded between IIB, IBEC and a production company Viglacera Corporation (Socialist Republic of Vietnam). Chairperson of the Management Board Nikolay Kosov signed the document on behalf of IIB, Chairman of the Board Denis Ivanov and Deputy Chairman ofthe Board Thinh Thi Hong were…  Read more
Fitch Ratings has upgraded IIB’s long-term credit rating to BBB+ with a stable outlook

Fitch Ratings has upgraded IIB’s long-term credit rating to BBB+ with a stable outlook

On November 22, 2018, the international rating agency Fitch Ratings upgraded the International Investment Bank’s long-term credit rating to BBB+ with a stable outlook. This rating upgrade is already the fourth positive rating action taken in relation to the Bank by international rating agencies this year. As the main factors that contributed to the upgrade, Fitch lists a significant improvement in the quality and geographical diversification of the Bank’s loan portfolio, a stronger internal…  Read more
IIB Trade Windows in Česká spořitelna a.s.

IIB Trade Windows in Česká spořitelna a.s.

On November 7, 2018 International Investment Bank (IIB) following an invitation of Česká spořitelna a. s. executed its pilot training event “Trade Windows. Banks ” in Prague, Czech Republic. No wonder that this location was chosen for Czech Republic is one of the most active IIB member states carrying out trade operations with shareholder countries of the Bank (Mongolia, Russia, Cuba) and in other geographies, such as Republic of Belarus and Armenia. International Investment Bank represented…  Read more