ITFA Annual Traditional Spring Event, Vienna – organised by CEERC

This event, organised by CEERC, will be split into 2 interesting parts as follows:

1)    IIB Presentation – short overview of the IIB. The IIB is an international financial institution (a multilateral development bank) rated “Baa1” by Moody’s and “BBB-” by Fitch, established in 1970 and operating on the basis of the Statute and Intergovernmental Agreement.

The shareholders (Member-States) of IIB are Republic of Bulgaria, Socialist Republic of Vietnam, Republic of Cuba, Mongolia, Romania, Czech Republic, Russian Federation, Slovak Republic and Hungary. Aggregate contribution of EU Member States in the paid-in capital comprises 47.0% of the paid-in capital.

The Bank – a supranational institution – enjoys tax-free and regulation-free status, as well as the support of its member states’ governmental bodies. The Council of the Bank is its highest authority and is composed of the member states’ representatives to the IIB. The Board is its executive body where members are appointed by the Council.

According to the current statutory documents, voting system is based on the principle “one country – one vote”. For most issues, decisions are taken by the Council and by a qualified majority of ¾ (i.e. six out of eight member states). Key decisions are taken unanimously. All the member states are able to influence the decision making.

The IIB’s mission is to invest in its member states with the goal of promoting their socio-economic development, supporting prosperity of their population and fostering economic cooperation between them. Its aim is to provide effective and efficient tailor-made development assistance and solutions.

The IIB’s mandate is focused on the support of small and medium-sized enterprises (SMEs) as well as socially viable and sustainable projects in its member countries. The Bank grants loans primarily through leading national financial institutions, development banks and export-import banks and agencies, and it also participates in co-financing and syndications with other international and national financial institutions.

2)    Economic overview by OTP’s Chief Economist Mr. Gergo Tardos about CEE-CIS and recent developments

Location