International Investment Bank serves Russian interests

The International Investment Bank is moving its HQ from Moscow to Budapest. Still, it remains close to Vladimír Putin and finances projects close to Moscow. In Slovakia, the bank lent €8m in 2004 to Georgian businessman Nodari Giorgadze to build the water world in Bešeňová. Later, VÚB took over the financing. In 2015, it provided a €22.5m loan to Tatravagónka (Alexej Beljajev) to fund wagon production in Russia. In 2010 it lent €9m to developer Dixia Sollaris for the Urbanic project in Bratislava’s center. The developer went bust in 2014, and Marian Kočner purchased the building from a bankruptcy trustee for €6m. In 2017, it provided €8m to SES Tlmače (Daniel Křetínský). Slovenské elektrárne (Daniel Křetínský) took out an €80m loan for completion of the Mochovce nuclear power plant.

(SME/5)