The World Bank has not yet appointed a successor to Thomas O'Brien, who was the international financial institution's resident representative in Sofia, although the new bank official was to arrive in Bulgaria in the beginning of September. The term of Mr. O'Brien's mandate expired in August 2001. The BANKER weekly learned that the World Bank had invited a contest for nominating Mr. O'Brien's successor. The new resident representative of the World Bank in Bulgaria will bear the main burden of preparing the negotiations on the 3-year programme for Bulgaria's development to be held by the Government and the international financial institution, scheduled to start in mid-September.
September 3 will be the first day in office for Levon Hampratsumyan as Chairman of BULBANK's Management Board. Asked by the BANKER weekly how his day would begin, Mr. Hampratsumyan replied evasiveley that he would first of all learn by heart his new telephone numbers.
Ivailo Todorov, who has gathered experience at First Private Bank, United Bulgarian Bank, and Cibank, will be the new Director of the Bulgarian Industrial Centre (BIC) in Moscow. During the visit of the Ministry of Economy's Chief Secretary Milen Keremidchiev to the Russian capital in mid-August Mr. Todorov was presented to the Bulgarian Ambassador in Moscow Iliyan Vassilev and to the businessmen, who had rented offices in the BIC.