Council for Mutual Economic Assistance

Anonymous

International Organization, 1964, vol. 18, issue 3, 635-636

Abstract: A new intergovernmental financial institution formed by the eight member countries of the Council for Mutual Economic Assistance (COMECON) came into being on January 1, 1964, under the name of the International Bank for Economic Cooperation with headquarters in Moscow. Its initial capital was fixed at 60 million rubles (equivalent to §66,666,000), and was to increase to 300 million rubles within five years.

Date: 1964
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