Agreement signed on June 6, 2019 in Moscow,Russia. Website
The International Bank for Economic Co-operation (IBEC) is a multilateral financial institution focused on facilitating the economic development of the Bank’s member states, foreign economic relations between business entities of the member states, and on expanding their foreign trade relations with counterparties from third countries.
IBEC member countries are the Republic of Bulgaria, the Socialist Republic of Vietnam, Mongolia, the Republic of Poland, the Russian Federation, Romania, the Slovak Republic and the Czech Republic. The Bank operates based on the intergovernmental Agreement on the Establishment and Activities of the IBEC registered with the United Nations Secretariat.
IBEC is not subject to sanctions: the restrictive measures established by EU Council Regulation No. 833/2014 dated July 31, 2014 do not apply to the financial operation of the Bank.