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Council for Mutual Economic Assistance

Published online by Cambridge University Press:  22 May 2009

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Extract

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.

Type
International Organizations: Summary of Activities: III. Political and Regional Organizations
Information
International Organization , Volume 18 , Issue 3 , Summer 1964 , pp. 635 - 636
Copyright
Copyright © The IO Foundation 1964

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References

1 Keesing's Contemporary Archives, 02 15–22, 1964 (Vol. 14), p. 19911Google Scholar. For a summary of previous COMECON activities, see International Organization, Autumn 1963 (Vol. 17, No. 4), pp. 988–989CrossRefGoogle Scholar.

2 The New York Times, May 30, 1964.