International Investment Bank is a multilateral development institution that aims to facilitate connectivity and integration between the economies of the Bank’s member states in order to ensure sustainable and inclusive growth and the competitiveness of national economies, backed by the existing historical ties.
Closing its Hungarian headquarters, leaving the EU and returning to Russia due to sanctions. The International Investment Bank (IIB) in Budapest, which has come under US sanctions, is closing its Hungarian headquarters and leaving the EU. "The bank has started the relocation of its headquarters from Hungary to Russia," the statement said.
Hungary's government has decided to withdraw its representatives from the Russia-controlled International Investment Bank (IIB) and will quit it. The IIB, which is based in Budapest and has come under US and EU sanctions, is closing its Hungarian headquarters, leaving the EU and returning to Russia.