International Bank for Economic Cooperation

E530082
international financial institution multilateral development bank

The International Bank for Economic Cooperation is a multilateral financial institution founded by socialist countries to facilitate trade and economic collaboration, historically using the transferable ruble as a clearing currency.

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Observed surface forms (1)

Surface form Occurrences
Comecon financial system 1

Statements (47)

Predicate Object
instanceOf international financial institution ⓘ
multilateral development bank ⓘ
alsoKnownAs MBES NERFINISHED ⓘ
Mezhdunarodny bank ekonomicheskogo sotrudnichestva NERFINISHED ⓘ
country Russia ⓘ
currencyNowUsed US dollar NERFINISHED ⓘ
euro ⓘ
foundedBy Council for Mutual Economic Assistance NERFINISHED ⓘ
socialist countries ⓘ
governedBy intergovernmental agreement ⓘ
hasGoverningBody Board of Management NERFINISHED ⓘ
Council of the Bank NERFINISHED ⓘ
hasMember Bulgaria NERFINISHED ⓘ
Cuba NERFINISHED ⓘ
Czech Republic NERFINISHED ⓘ
Mongolia NERFINISHED ⓘ
Romania NERFINISHED ⓘ
Russia NERFINISHED ⓘ
Slovakia NERFINISHED ⓘ
Vietnam NERFINISHED ⓘ
hasOfficialLanguage English ⓘ
Russian ⓘ
hasSector banking ⓘ
development finance ⓘ
export credit ⓘ
hasService documentary operations ⓘ
guarantees ⓘ
syndicated loans ⓘ
trade finance ⓘ
headquartersLocation Moscow ⓘ
inception 1963 ⓘ
legalForm interstate bank ⓘ
memberOf CMEA system NERFINISHED ⓘ
operatesIn export–import operations ⓘ
international trade finance ⓘ
project finance ⓘ
originalPurpose economic cooperation among socialist countries ⓘ
facilitation of trade among member countries ⓘ
predecessor CMEA clearing arrangements ⓘ
regionServed Central and Eastern Europe ⓘ
Eurasia NERFINISHED ⓘ
former socialist countries ⓘ
shortName IBEC NERFINISHED ⓘ
supervision member states governments ⓘ
usedAs clearing bank for transferable ruble ⓘ
usedCurrency transferable ruble ⓘ
website https://www.ibec.int ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

transferable ruble → clearingBank → International Bank for Economic Cooperation ⓘ
Staatsbank der DDR → partOf → International Bank for Economic Cooperation ⓘ
this entity surface form: Comecon financial system