The International Investment Bank has moved its headquarters from Moscow to Budapest. IIB Chairperson Nikolay Kosov said that the bank will focus on providing financial support for sustainable and green initiatives in Hungary and around the region while strengthening ties between member countries. “Besides advocating sustainability and economic prosperity of member states, transparency of operations is also at the heart of our business activities,” he said. This may be a reaction to concerns that Russia is using the Soviet-era bank as a way of increasing the country’s influence in the region. There are also fears that immunity granted to Russian employees of the bank could pose a security threat.
