Background

50TH ANNIVERSARY OF THE INTERNATIONAL BANK FOR ECONOMIC CO-OPERATION

The International Bank for Economic Co-Operation celebrates its 50th anniversary.

The IBEC was established according to the intergovernmental Agree­ment on Organization and Activities of the IBEC dated 22 October 1963, as registered with the Secretariat of the United Nations.

Ceremonial events devoted to the 50th anniversary of the International Bank for Economic Co-Operation will be held in Moscow on 24 October. Heads of delegations of IBEC’s member countries, representatives of governmental financial bodies of IBEC’s member countries, embassies and missions of Bank’s member countries have been invited to the events.

Ceremonial events will be held simultaneously with the 122 meeting of the Council of the International Bank for Economic Co-operation, which will also be held in Moscow.

During 50 years, the IBEC has been diligently performing its task to promote economic cooperation and development of economies of IBEC’s member countries using the status of an intergovernmental financial institution.

At present, the Bank’s member countries are:

  • Republic of Bulgaria
  • Socialist Republic of Vietnam
  • Mongolia
  • Republic of Poland
  • Russian Federation
  • Romania
  • Slovak Republic
  • Czech Republic

Today, the IBEC is a universal financial and credit organization dealing in various segments of financial and exchange markets, offering a full range of banking products and services to corporate clients of various forms of ownership and businesses in full compliance with international standards.

Throughout its existence, the International Bank for Economic Co-Operation proved itself as a reliable financial institution and demonstrated its good standing during the world financial crisis.

In the nearest future, the IBEC intends to further expand its banking ac-tivity in order to promote the development of external economic relations between Bank’s member countries, their banks, enterprises and organizations, and between them and banks, enterprises and organizations of any other countries.

The Bank’s intergovernmental status, its long-term experience in the in-ternational financial market enables the Bank to efficiently implement its objec-tives, and presence of specialists from all IBEC’s member countries in the Bank’s staff allows to make use of banking experience of these countries.

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