The International Investment Bank, formed as an initiative of the Soviet Union in 1970, has started to actively invest in the countries of the former Eastern Bloc, including Bulgaria.
The Russian RBC Daily has reported that the International Investment Bank, together with the International Bank for Economic Cooperation, is planning to invest up to EUR 500 M in different projects.
About EUR 9 M have already been invested in construction of commercial properties in Slovakia. Bulgaria and Mongolia are also on the list to receive funding for construction of commercial properties in the near future.
RBC Daily also reported that two projects, a commercial property in Bulgaria and a hotel in Mongolia, have been started. According to the Russian media, the investments for each project will be up to EUR 10 M.