(Finance) – Poland, the Czech Republic, Bulgaria, Slovakia and Romania they decided to abandon two international banks created in the Soviet era to promote economic cooperation among its members and promote their development. The two institutions, which have Russia as their main shareholder, are the International Bank for Economic Cooperation (IBEC, established in 1964) and the International Investment Bank (IIB, created in 1970).
“Because of theongoing and growing, unjustified, unprovoked and merciless military aggression by the Russian Federation against Ukraine we have decided to take measures to stop participation in the International Bank for Economic Cooperation and the International Investment Bank, “they said in a joint statement.
L’IIB includes Bulgaria, Cuba, the Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam (Poland left the bank in 2000). L’IBEC has as components Bulgaria, the Czech Republic, Mongolia, Poland, Romania, Russia, Slovakia and Vietnam. “In line with our national procedures, therefore, we will take action as soon as possible to terminate our participation and initiate the transaction under the statutes of the banks in order to obtain an orderly pickup“, is underlined in the note.