IBEC continues to build up its development portfolio

The International Bank for Economic Co-operation (IBEC) invested in a primary €250 million Eurobond issue by Czech Energy Company Energo Pro a.s.

IBEC’s investment in the above Eurobonds are to be considered as part of the IBEC “development portfolio” as far as the financing is in line with the Bank’s mission to facilitate economic development and cooperation of member countries. Raised financing will support further investments in the development of energy infrastructure in Czech Republic and Bulgaria.

Energo-Pro a.s. is a leading electricity generation and distribution company in the Central-East European region, providing services in such IBEC member states as the Czech Republic and Bulgaria. The issue proceeds will be allocated to improving the energy infrastructure of the Bank’s member states.