Government nominates Lilyana Pavlova as vice president and member of EIB Management Committee

The government has nominated Lilyana Pavlova for the position of deputy chair (vice president) and member of the Management Committee of the European Investment Bank (EIB), said the government press office. The minister of finance will notify the bank of this decision, following consultation with the countries of the EIB electoral group, which includes Bulgaria. The government said Lilyana Pavlova is a financial expert with rich experience in management, project management and cooperation with European institutions.

Under the EIB Statute, the representation of the member states in the bank's governing bodies is ensured through their division into constituencies. Bulgaria is in the same group as Croatia, Cyprus, the Czech Republic, Hungary, Malta, Poland, Slovakia and Slovenia. The rotation of the relevant positions in the Board of Directors, the Management Committee and the Audit Committee are governed by an Interim Agreement signed by the ministers of finance of the countries in the group in their capacities as members of the Board of Governors of the bank.

According to the Interim Agreement, signed by exchange of letters between November 2016 and May 2017, the position of Vice President will be taken in September 2019 by Bulgaria's representative for a period of three years.

Source: FOCUS News Agency

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