Background

STATEMENT OF THE INTERNATIONAL BANK FOR ECONOMIC CO-OPERATION (IBEC) REGARDING THE WITHDRAWAL OF THE CZECH REPUBLIC, THE REPUBLIC OF POLAND, THE SLOVAK REPUBLIC AND ROMANIA FROM THE MEMBERSHIP IN IBEC

By this statement, IBEC officially informs that the Czech Republic, the Republic of Poland, the Slovak Republic and Romania withdraw from the Agreement on the Organization and Activities of the International Bank for Economic Co-operation and from the membership in the Bank in accordance with the notices submitted to the IBEC Council by the respective member countries. Accordingly, the Czech Republic withdraws on 26 January 2023, the Republic of Poland withdraws on 29 January 2023, the Slovak Republic withdraws on 30 January 2023 and Romania withdraws on 09 June 2023.

IBEC considers it necessary to inform its partner financial institutions, corporate clients, bondholders and other interested third parties that the withdrawal is not expected to have any significant adverse impact on the Bank’s liquidity and ability to fulfill all its current and future liabilities.

It should be especially emphasized, that IBEC’s long-term sustainability and further development are secured by the support granted to the Bank by the member countries – the Republic of Viet Nam, Mongolia, and the Russian Federation.

IBEC has successfully continued its regular banking activities during the challenging 2022, having closed new lending and documentary transactions in member countries and third countries of strategic interests, in which the Bank’s products have already being provided.

IBEC remains opened to new members and is currently updating its mid-term Strategy with special focus on diversified and digitalized foreign trade-related products to enable the growth of its portfolios and build its own path through turbulent macroeconomic conditions.

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