Bulgaria withdraws from participation in International Investment Bank and International Bank for Economic Cooperation

With its protocol decision the government approved the participation of the Republic of Bulgaria in the common position of EU member states to terminate their membership in the International Investment Bank (IIB) and the International Bank for Economic Cooperation (IBEC).

The IIB and the IBEC are multilateral development financial institutions whose purpose is to support the economic development of the Member States. The IIB member states are the Republic of Bulgaria, Vietnam, Cuba, Mongolia, Hungary, Romania, Russia, Slovakia and the Czech Republic. The IBIS member states are the Republic of Bulgaria, Russia, the Czech Republic, Poland, Romania, Slovakia, Mongolia and Vietnam, reminded by the government's information service.