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International Investment Bank (IIB) is a multilateral development institution with headquarters in Budapest, Hungary. It was established in 1970 and operates as an international organisation based on the intergovernmental Agreement Establishing the International Investment Bank dated 10 June 1970, registered with the United Nations Secretariat on 1 December 1971 under number 11417, as amended and restated from time to time.
|Type||International financial organization|
|Founded||July 10, 1970|
|Total assets||EUR 1720 million|
|Total equity||EUR 2 billion (paid in capital EUR 378,71 million)|
IIB specialises in medium- and long-term financing of projects aimed at supporting the economies of its members that would have a significant positive social, economic and environmental impact. IIB offers direct financing and provides loans in partnership with other Financial institutions as well as through partner banks.
The IIB statutory documents allow for the admission of either Sovereign states or international organisations as members.
The Board of Governors is the Bank's supreme collective governing body, consisting of representatives from the IIB's member states. The board of directors is responsible for the general management of the Bank. The Bank's executive body is the Management Board, whose members are appointed by the Board of Governors. The Bank's activities are controlled by the Audit committee, which is made up of representatives from the IIB's member states appointed by the Board of Governors. The Bank's Financial statements are confirmed by a half-year compliance Audit review and an annual audit conducted by international auditors EY.
The agreement establishing the IIB was signed by the member states on 10 July 1970 and registered with the UN Secretariat under number 11417. The Bank began its activities on 1 January 1971. The member states of the Bank at the time of its foundation were: the People's Republic of Bulgaria, the People's Republic of Hungary, the German Democratic Republic, the Mongolian Democratic Republic, the People's Republic of Poland, the Socialist Republic of Romania, the Union of Soviet Socialist Republics, and the Czechoslovak Socialist Republic.
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- "Romania to close its airspace to Russian airlines-govt spokesman". Reuters. 26 February 2022.