On Wednesday, Slovak Government at its session approved a document according to which Slovakia should terminate its membership of the International Investment Bank (IIB) and International Bank for Economic Cooperation (IBEC). However, in order to come to force, the decision still needs to be greenlighted by Parliament and signed by the President. Both banks were established with the involvement of the Soviet Union in the 1960s and 1970s. The decision came due to the invasion of Ukraine as part of the sanctions against Russia.
The Finance Ministry explained in the document that it has been coordinating its approach in this matter with the Finance Ministries of Poland, the Czech Republic, Romania and Bulgaria. The ministry will coordinate the date of Slovakia's withdrawal from the relevant agreements with other member countries of these banks.
