New Development Bank, Eurasian Development Bank and International Investment Bank Sign Loan Agreements for Project in Karelia, Russia

August 15, 2017

On 15 August 2017, the New Development Bank (NDB), Eurasian Development Bank and International Investment Bank signed loan agreements with a total amount of USD 100 mln for the construction of two hydropower generationplants with a total installed capacity of 49.8 MW in the Republic of Karelia inthe Russian Federation. The NDB will provide the financing for the project through two international financial institutions – Eurasian Development Bank and International Investment Bank. The project… Read more

“Green” energy industry of Armenia – fresh impetus thanks to the ČSOB Czech Republic and the IIB’s TF

August 9, 2017

The “green” energy industry of Armenia received a new impetus – «CINK Hydro - Energy k.s.»., a manufacturer from the Czech Republic will supply the country with the equipment for the construction of a small hydropower plant (SHPP). The initiative in the area of renewable energy sources will be implemented as a part of the inaugural trade finance project of the International Investment Bank (IIB) and ZAO ARMBUSINESSBANK (Armenia). In June, 2017, the banking organizations signed a framework… Read more

The IIB signs first credit facility deal in Hungary

August 9, 2017

On 1st August, 2017 the International Investment Bank signed off on its debut credit facility in Hungary. The aim of this facility is to support the expansion of the IIB’s portfolio of lending in Hungarian Forint (HUF). The Bank of Hungarian Savings Cooperatives Ltd. (TakarékBank) executed a credit facility up to 4 billion HUF (approx. EUR 13 million) with a tenor of 3 years. Following the 107th Council Meeting in Romania, and the adoption of the IIB’s Bucharest Strategy, the IIB has… Read more

Government delegation of the Republic of Cuba visited headquarters of the IIB

July 13, 2017

On July 12, 2017, the delegation of the Republic of Cuba, led by the Minister of Construction, Mr. René Mesa Villafaña, payed a working visit to the headquarters of the International Investment Bank (IIB). During the meeting, the members of the IIB Board discussed with the Cuban partners a wide range of issues concerning the investment cooperation and the comprehensive expansion of the Cuban direction of the Bank’s activities. The delegation also included the Ambassador Extraordinary and… Read more

Implementation of IFRS 9 by MDBs – in the focus of IIB and BSTDB’s consultations

July 6, 2017

How do MDB’s deal with the existing loan portfolios in preparation for implementing IFRS9? This and other questions on the financial reporting were discussed during a working visit by the Black Sea Trade and Development Bank’s (BSTDB) delegation to the headquarters of the International Investment Bank (IIB), on July 4-5, 2017. The main aim of the working visit was an exchange of experience concerning the new international financial reporting standards, effective from January 1, 2018. During… Read more

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