Банкеръ Weekly

Briefs

NEWS FROM THE COUNCIL OF MINISTERS

Deputy Minister of Finance Lyubomir Datsov is going to be the state representative at the general meeting of the shareholders of the Bank Consolidation Company (BCC). The meeting will be held on July 30, 2004.The Government launched additional funds from the 2004 republican budget amounting to BGN263MN. The Ministry of Regional Development and Public Works received BGN100MN for repair works. The Ministry of Health will have at its disposal additional BGN76MN, and the Ministry of Education and Science will be able to spend BGN40MN on renovation of the school base. Additional budget resources will also be launched to the Bulgarian State Railways (BDZ), the Agriculture fund, municipal administrations, etc.Bestechnika TM-Radomir AD liabilities amounting to BGN12,193,530 were rescheduled for an eight-year period with a Government decision. The principal of the Radomir-based company's debt amounts to BGN9,108,560, while interests reach BGN3,084,970.The construction of a second bridge on the Danube river between the towns of Vidin and Kalafat was included in the list of projects that will be financed by state loans in 2005. Next year Bulgaria will be paid two tranches totalling EUR38MN for the bridge. The money will be provided by the European Investment Bank (EIB) and the German Credit Institution for Reconstruction (KfW). The Council of Ministers proposed that the National Assembly ratify the EUR226.2MN guarantee agreement signed by the Republic of Bulgaria and the Japan Bank for International Cooperation on July 9, 2004. The money will be used for financing the rehabilitation of blocks 1-4 in the Maritsa Iztok 2 thermoelectric power station.Deputy Minister of Labour and Social Policy Ivanka Hristova and the ministry's Secretary General Georgi Georgiev are the new members of the National Social Security Institute Supervisory Board. Their colleagues in the board will be Marian Abrashev, Secretary General of the Ministry of Justice, and Nikolay Angelov, Social Support Agency Director. The Council of Ministers appointed Dr. Regina Gerassi Chairwoman of the Positive Drug List Commission. She will replace Dr. Emil Hristov. The commission will be refreshed by six more new members.

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