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Speech of Russian Foreign Minister Sergey Lavrov at the ceremony of signing the Framework Cooperation Agreement between the Ministry of Foreign Affairs of Russia and the International Bank, Moscow, 22 May 2013

1014-22-05-2013

    Dear Nikolay Nikolaevich,

    Dear friends,

    We have just signed the Cooperation Memorandum between the Ministry of Foreign Affairs of Russia and the International Investment Bank. I am especially glad that on behalf of IIB the Memorandum was signed by Nikolay Kosov – earlier our colleague in diplomatic work and currently a financial employee with rich experience known in the Russian Federation and abroad, who has recently become the Chairman of the Board of the International Investment Bank, with which hopes to give new life to this important financial instrument are related.

    If we talk about our interests, the Russian Federation sees an important instrument in the Bank’s activity, which may significantly help our joint efforts in creation of a modern international financial centre and establishment of a modern efficient system contributing to international development in Russia. This will be just an addition to main functions of the Bank consisting in contributing to social and economic development of member-countries, cooperation between financial, banking, business circles, thus contributing to the formation of conditions for the reformation of the international monetary and financial system, liquidation of known discrepancies in it currently affecting the global economy, especially that of Europe. These tasks are very important for us. Within the framework of the Group of Twenty and in other formats, Russia consistently advocates for further democratization of the international monetary and financial system, growth of the role of new centres of economic growth, financial influence in it. We are guided by these tasks as chairs of the Group of Twenty. Our agenda envisages the whole range of topics aimed at reaching the agreements that will contribute to sustainable, balanced growth, creation of new workplaces.

    Interests of the state and business interweave more and more frequently in all these issues. This also refers to the relations between diplomacy and business circles. It is clear that the more sustainable the economic and financial condition of the state is, the more comfortable and secure it feels at the international arena. In the same way, active and constructive work at international arenas in the line of diplomacy, consolidation of the atmosphere of cooperation create most favourable conditions for business. We are aimed at scrupulous and full performance of the agreements reached in the Memorandum. I am convinced that this will contribute to our joint interests.