site.btaParliament Terminates Bulgaria's Membership in International Investment Bank, International Bank for Economic Co-operation

On Wednesday, Parliament voted 105-37 to pass a Bill on the Denunciation of the Agreement Establishing the International Investment Bank (IIB) and the Agreement on the Organization and Activities of the International Bank for Economic Co-operation (IBEC). BSP for Bulgaria and Vazrazhdane voted against.

The denunciation of the agreements becomes effective six months after receipt of the official notifications sent by the Bulgarian government to the IIB Board of Governors and the IBEC Board. This terminates Bulgaria's membership of both banks.

The bill passed on first reading on January 24. Again, Vazrazhdane and BSP for Bulgaria voted against at the time.