Bulgaria has Terminated its Membership in the International Investment Bank and IBEC

In the context of the collective response of Europe and the EU, the government decided to terminate Bulgaria's membership in the International Investment Bank (IIB) and the International Bank for Economic Cooperation (IBEC). This has been agreed by all EU member states, said cabinet spokeswoman Lena Borislavova.

The IIB and the IBIC 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 IBIC member countries are the Republic of Bulgaria, Russia, the Czech Republic, Poland, Romania, Slovakia, Mongolia and Vietnam.

/BNT

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