International Investment Bank (IIB) is an international financial institution established in 1970 with Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Romania, Russia, the Czech Republic and Slovakia as country members. IIB’s headquarter is located in Moscow, Russian Federation. Representative of Vietnam at IIB is State Bank of Vietnam (SBV).IIB's mission is to support the economies of its member states through direct financing to projects or through financial intermediaries. IIB’s authorised capital is Euro 1.3 million.
Vietnam, represented by the SBV, has joined IIB in 1977. By the end of 2012, IIB has extended several loans to Vietnam commercial banks such as euro 15 million loan to Vietinbank, and USD 20 million loan to BIDV and USD 10 million loan to VP Bank for SMEs financiang. Besides, IIB also participate in financing large projects of Vietnam in the fields of infrastructure, energy, and are expected to co-finance the construction project of Long Phu thermal power plant with a total financing of USD 100 million.
Currently, IIB‘s long term strategy is to expand its operations in Vietnam by opening representative office and participe more actively in development projects.
At the meeting, IIB and VDB leaders were exchanging opinions related to programs and projects of Vietnam government priorities for economic development and cooperation opportunities for between the two parties. As DFIs, IIB and VDB share interest in financing clean energy projects, agriculture, projects using high technology. IIB express its willing to get more involved with VDB in financing development projects in Vietnam. Cooperation activities can be implemented under various forms such as co-financing or two-steps credits. Mr. Nguyen Chi Trang has welcomed the offers of cooperation and looks forward to its realization.