20.05.2012

Simeon Djankov is the first Minister of Finance of a country from the former socialist bloc who has been elected chair of the Supervisory Board of the European Bank for Reconstruction and Development (EBRD) since the bank was established in 1991. A number of finance ministers at this position have continued their political and career development: Cristine Lagarde, Managing Director of the International Monetary Fund, Philippe Maystadt, President of EIB, Sauli Niinistö, President of Finland, as well as Lamberto Dini, former Prime Minister of Italy, and Gordon Brown, former Prime Minister of the UK.

Austrian Minister of Finance Maria Fekter, who had chaired the Supervisory Board thus far, expressed her gratitude for Bulgaria\'s active participation in the work of the 21^st General Assembly. She congratulated the Deputy Prime Minister and Minister of Finance Simeon Djankov on his election and said this was a new step in the Bank\'s development. It is for the first time that this position is taken by a representative from a country in which the Bank has active projects, she said in her address.

Finance Minister Simeon Djankov will be at this position until the next annual EBRD meeting in 2013 to be held in Turkey. Each member country of the financial institution has a member in the Bank\'s Supervisory Board. The chair of the Supervisory Board and its members do not receive any remuneration from the Bank for fulfilling their functions.