Hungary Increases its Share in the Paid-in Capital of the International Investment Bank (IIB)Business | January 16, 2020, Thursday // 15:03| views
The Government of Hungary increased its share in the paid-in capital of International Investment Bank (IIB) contributing an amount of 10 million euro on January 15, 2020. This continues a new round of capitalisation of the Bank.
Capitalisation programme 2020-2022 received support of the shareholder states of IIB during a historic meeting of the highest governing body of the Bank – the Board of Governors – that took place in December 2018 in Varadero (Republic of Cuba).
As a result of this contribution, IIB paid-in capital increased to 349,61 million euro. Hungary’s share grew to 17,2% (60 mln euro) confirming its status of the shareholder state with the second largest share in the paid-in capital.
“A systematic implementation of the current capitalisation programme will allow us to maintain high pace of lending and investment activity growth that we adopted in recent years”, IIB Chairperson of the Management Board Nikolay Kosov highlighted, “we highly value a responsible stance and practical support that Hungary continuously demonstrates towards the Bank. Addressing words of deep gratitude to the Hungarian Government I would call this decision a great beginning of a new business year for IIB and a good example, which I am sure our other member states will follow”.
International Investment Bank (IIB) founded in 1970. Current shareholders of the Bank include Bulgaria, Cuba, Czech Republic, Hungary, Mongolia, Romania, Russia, Slovakia and Vietnam. The Bank has undergone major modernisation since late 2012 and is rated A- (outlook stable) by S&P, A3 (outlook stable) by Moody’s, BBB+ (outlook positive) by Fitch, A- (outlook stable) by Dagong Europe, A (outlook stable) by ACRA.