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President Klaus Iohannis signed, on Monday, the decrees regarding the promulgation of laws denouncing the Intergovernmental Agreement on the establishment of the International Investment Bank (IIB) and its Statute and the Convention on multilateral settlements in transferable rubles and the organization of the International Bank for Economic Cooperation (IBEC), told Agerpres.
The head of state promulgated the laws for denouncing the Intergovernmental Agreement regarding the establishment of the International Investment Bank and its Statute, signed in Moscow on 10 July 1970, and its amendment and supplement protocol and for denouncing the Convention on multilateral settlements in transferable rubles and the organization of the International Bank of Economic Collaboration, concluded in Moscow 22 October 1963, and its amendment and addition protocols.
The laws stipulate that the notifications of renunciation of membership shall be sent to the Boards of Governors of the International Investment Bank and the International Bank for Economic Cooperation after the entry into force of the normative acts, and the effective withdrawal from the shareholding shall be concluded six months after sending the notifications. Moreover, the Government is authorised to undertake the necessary steps for Romania's withdrawal from the International Investment Bank and the International Bank for Economic Cooperation. The expenses caused by the withdrawal from the banks' shareholding, as well as those related to technical and legal assistance, shall be provided from the state budget, through the budget of the Ministry of Finance.
The Foreign Affairs Ministry (MAE) will announce, through an order published in the Official Journal of Romania, the date on which the Agreement on the establishment of the International Bank and its amendment and supplement protocol, as well as the date on which the Convention on multilateral settlements in transferable rubles and the organization of the International Bank for Economic Cooperation and its amendment and addition protocol ceases to be valid in relation to Romania.
