Outgoing EU Commission Vice President Kristalina Georgieva earlier this year negotiated changes in the way the union funds the World Bank, "her former and future employer," Politico argues.

A new arrangement with the World Bank "is raising alarm bells at the Commission and the European Parliament about a potential conflict of interest," according to a piece published on Wednesday.

Georgieva, a former World Bank employee, is due to return to the group in January to assume a CEO position.

She was in charge of budget and human resources at the EU Commission over the past two years.

"In April, Georgieva’s office agreed to a new payment structure, replacing a flat management fee with a more complex formula that three senior Commission officials with direct knowledge of the file say could result in a greater proportion of the EU’s contributions going to World Bank overhead. The officials requested anonymity out of fear of political reprisal," Politico writes.

A World Bank official is quoted as saying that Georgieva "was not involved in negotiating this framework agreement with the World Bank."

Politico's story is available here.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!