International Bank for Economic Cooperation

E530082

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.

All labels observed (3)

How this entity was disambiguated

Statements (47)

Predicate Object
instanceOf international financial institution
multilateral development bank
alsoKnownAs MBES
Mezhdunarodny bank ekonomicheskogo sotrudnichestva
country Russia
currencyNowUsed US dollar
euro
foundedBy Council for Mutual Economic Assistance
socialist countries
governedBy intergovernmental agreement
hasGoverningBody Board of Management
Council of the Bank
hasMember Bulgaria
Cuba
Czech Republic
Mongolia
Romania
Russia
Slovakia
Vietnam
linked to: Viet Nam
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
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
former socialist countries
shortName IBEC
supervision member states governments
usedAs clearing bank for transferable ruble
usedCurrency transferable ruble
website https://www.ibec.int

How these facts were elicited

Referenced by (3)

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 Comecon financial system
linked to: International Bank for Economic Cooperation
International Bank for Economic Cooperation alsoKnownAs Mezhdunarodny bank ekonomicheskogo sotrudnichestva
linked to: International Bank for Economic Cooperation