Former Minister for the Bulgarian Presidency of the EU Council Lilyana Pavlova has been appointed vice president and a member of the Management Committee of the European Investment Bank, BNR reports.

She is the first Vice-President of the Bank of Bulgaria, with a three-year term of office.

According to the EIB Statute, the representation of the Member States in the governing bodies of the Bank is ensured by distribution into constituencies. The constituency includes Bulgaria, Croatia, Cyprus, Czech Republic, Hungary, Malta, Poland, Slovakia and Slovenia. The rotation of the respective posts in the Board of Directors, the Management Committee and the Audit Committee of the Bank are governed by an Interim Agreement signed by the Ministers of Finance of the countries in the group as members of the Board of Governors of the Bank.

The Governing Board of the European Investment Bank is a collegial, standing executive body of the Bank, consisting of a Chair (President) and eight Vice-Chairpersons (Vice-Presidents) appointed by the Board of Governors on a proposal from the Board of Directors.

Pavlova has been proposed for the position by the Bulgarian Finance Minister. Lilyana Pavlova's extensive experience in senior management positions in several governments and as a financial expert, with a long career in project management and in cooperation with international institutions, is among the arguments of the Bulgarian government for her nomination as EIB Vice President. She was a Member of Parliament, Minister for Regional Development and Public Works and Minister for the Bulgarian Presidency of the Council of the European Union.