Банкеръ Weekly

Briefs

TREASURY

The Council of Ministers appointed its representatives to the boards of the International Bank for Economic Cooperation and of the International Investment Bank. These are the two institutions of the defunct Council for Mutual Economic Assistance (CMEA) which are located in Moscow and in which Bulgaria is a shareholder. The Bulgarian Government nominated Krassimir Katev, Deputy Minister of Finance, Bozhidar Kabakchiev, Deputy Governor of the BNB, Luchia Christova, Director of the International Relations and European Integration Directorate at the BNB, Lachezar Stefanov, Director of the Domestic Finances Directorate of the Ministry of Finance and Vassil Ivanov, Head of the Currency-Financial Department of the Foreign Finances Directorate of the Ministry of Finance, to take part in both bank's boards.

ProCredit Bank will open on October 15. Small and medium-sized business will be the credit institution's priority. It will be managed by the executive directors Christoff Freitag, Gue De Ruke and Peter Slavov. The credit institution has five shareholders, each owning a 20% stake in the bank's capital - EBRD, the International Financial Corporation, Commerzbank, International Microinvestment Fund (IMI) and the German state-owned bank Deutsche Investitions und Endwicklung Geselshaft.

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