International Investment Bank (IIB)
Banque internationale d'investissements
Mezdunarodnyj Investicionnyj Bank (MIB)
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1970-07-10 Moscow USSR
10 Jul 1970, Moscow (USSR). Commenced activities on 1 Jan 1971. Membership of the German Democratic Republic lost validity from 3 Oct 1990, due to discontinuance of its existence as a subject of international law. Maintained regular relations in related fields of interest with H-XC0432 - Council for Mutual Economic Assistance (CMEA) until dissolution of the Council in 1991, when mass default on debt meant the Bank effectively ceased operations. By decision of the Supervisory Board, limited operations recommenced in 1996, so as to cover operating costs. Following decision by the Russian government, summer 2002, to make good on its debt, IIB is expected to recommence full operations during 2004.
Support economies of member states through direct project financing as well as through financial intermediaries.
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