A withdrawal bill was endorsed by the lower chamber of parliament on Thursday, Polish state news agency PAP reported.
The draft legislation passed the house in a near-unanimous vote, with 451 MPs backing the plan and three abstaining.
The bill now goes to the upper house, the Senate, for further debate.
Bank 'may be used by Russia to evade international sanctions'
Deputy Finance Minister Piotr Patkowski told lawmakers that Poland should leave the bank for two reasons: first, “because its main shareholder is Russia, which has assaulted Ukraine,” and, second, “because the IBEC may be used by Russia to evade international sanctions.”
In business since 1964
The IBEC was launched in 1964 by the Soviet Union, Poland, Bulgaria, Hungary, East Germany, Mongolia, Romania and Czechoslovakia.
Cuba and Vietnam joined later.
Today the bank's shareholders include five European Union countries: Poland, the Czech Republic, Slovakia, Bulgaria and Romania, according to Patkowski.
The bank's stated aim is to facilitate economic cooperation between its member countries and their development. Its equity is currently worth EUR 400 million, the PAP news agency reported.
Friday is day 93 of Russia’s invasion of Ukraine.
Source: PAP, businessinsider.com.pl, ibec.int