The Foreign Trade Bank of the USSR (Russian: Банк для внешней торговли СССР, abbreviated Внешторгбанк, Latinized Vneshtorgbank) was the monopoly state credit institution for trade finance in the Soviet Union. It was initially established in 1922 as the Russian Commercial Bank (Рускомбанк / Roskombank) and reorganized as Vneshtorgbank in 1924.[1]
In 1988, it was reorganized as the Bank for Foreign Economic Affairs of the USSR (Russian: Банк внешнеэкономической деятельности СССР) or Vnesheconombank. With the dissolution of the Soviet Union, Vnesheconombank's operations in the post-Soviet states became new institutions such as Belvnesheconombank in Belarus, the Bank of Estonia,[2]: 4 Alem Bank in Kazakhstan, or Ukreximbank in Ukraine.[3]: 25 The Russian Vnesheconombank defaulted in 1992 and, after multiple restructurings, eventually became VEB.RF.
- ^ M. Poliakov (1965), "USSR Bank for Foreign Trade", American Review of Soviet and Eastern European Foreign Trade (I:1), Taylor & Francis: 63–67
- ^ Andres Sutt, Basil B. Zavoiceo, & Adalbert Knöbl (2002), The Estonian Currency Board: Its Introduction and Role in the Early Success of Estonia's Transition to a Market Economy, Washington DC: International Monetary Fund
{{citation}}: CS1 maint: multiple names: authors list (link) - ^ Khaled Sherif, Michael Borish, & Alexandra Gross (2003), State-Owned Banks in the Transition: Origins, Evolution, and Policy Responses (PDF), Washington DC: World Bank
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