Банкеръ Weekly

Briefs

LIDIYA SHOULEVA WILL QUIT ALBENA'S BOARD OF DIRECTORS

Deputy Premier and Minister of Labour ans Social Policies Lidiya Shouleva will quit the Board of Directors of Albena AD, which manages the eponymous seaside resort, Ivelina Grozeva, Chairperson of the company's managerial body, announced for the BANKER weekly. Ms. Shouleva is to be relieved of her duties at the general meeting of Albena's shareholders, scheduled for October 3. No successor of Ms. Shouleva will be appointed for the time being, Ms. Grozeva added. According to her, the 2001 summer season has been the most successful for years. The number of overnights to the present moment has marked a 30% increase from last year. BGL30MN has been invested since the beginning of 2001. The money came mainly from payments in advance by foreign tour operators. Two bank credits - from Bulgarian Post Bank and SG Expressbank - have already been agreed. Albena is still interested in purchasing the International Youth Centre of Primorsko, which is a self-contained part of the Orbita chain for youth tourism. A few months ago the Ministry of Economy opened a procedure for piecemeal selling of the chain. The bank loans will be probably used if Albena wins the bidding for the privatisation of the International Youth Centre.

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