International Investment Bank

Summary of International Investment Bank

A multinational development bank, membership of which is comprised of the Soviet Union and its allies. The bank was formed in 1970 to foster “economic efficiency and intensification”in the member states. The authorized capital of the bank is 1,071,300,000 transferable rubles, of which 374,480,000 is paid in.

The preponderance of projects funded are in the areas of heavy manufacturing and infrastructure development, high technology research and development, and agricultural productivity.

The bank may grant credits to (1) banks, economic organizations, and enterprises in member countries, (2) international economic organizations, and (3) bank and economic organizations of third world countries. Since its founding, the bank has supported 83 projects to a value of ten billion transferable rubles. It is estimated that during the period 1972-82, bank-funded projects have resulted in fifteen billion rubles' worth of exports among the member countries.

Headquarters of the bank is in Moscow. In 1984. the following states were members of the bank: Bulgaria Mongolia

Cuba Poland

Czechoslovakia Romania

German Democratic USSR

Republic Vietnam

Hungary

(Main Author: William J. Miller)