World Bank group

Since January 01, Bulgaria has not been represented by its own Commissioner in the European Union's executive body, becoming the first member state with offering no successor to a departing commissioner.

Kristalina Georgieva, who was the Commission's Vice President for Budget and Human Resources, left the office as of January 01 to take over a CEO job at the World Bank Group.

The World Bank's board of directors approved loans of $400 million each for Turkey and Azerbaijan late on Dec. 20 for the Trans-Anatolian Natural Gas Pipeline (TANAP) project. 

Turkish construction and investment firm Rönesans Holding's healthcare unit is working with French fund Meridiam on public-private partnership (PPP) investments in Morocco and Senegal, the Rönesans board chairman told Reuters on Dec. 20, also giving details about the planned financing deals for the group's city hospital projects. 

The World Bank said late on Dec. 15 that 48 governments have ratcheted up the fight against extreme poverty by committing $75 billion in new funds to the International Development Association, the bank's fund for the poorest countries. 

Bulgaria will only nominate its next European Commissioner if a candidate enjoys support from across the political spectrum, outgoing Prime Minister Boyko Borisov has said.

The commissioner should be proposed "either with huge consensus in Parliament on behalf of parliamentary parties or wait for an elected government," Borisov has told reporters.

There is no deadline for the nomination of the next Bulgarian commissioner, a spokesperson for EU Commission President Jean-Claude Juncker has said.

The Commission's comment follows questions related to the resignation of Georgieva and the upcoming procedure to determine the new Bulgarian commissioner.

Bulgarian Prime Minister Boyko Borisov has refuted reports that UN Middle East Coordinator Nickolay Mladenov is to be the next European Commissioner.

"It is from you that I am hearing this from the first time," Borisov has told reporters when asked about the information, according to BGNES wire service.

Bulgarian President Rosen Plevneliev will not be the country's nomination for European Commissioner, Prime Minister Boyko Borisov has said.

Borisov is yet to make clear who will be proposed as a successor to Kristalina Georgieva, the Bulgarian EU Commissioner who on Friday said she would leave in January to take over a CEO position at the World Bank Group.

EU Commission Vice President Kristalina Georgieva has said she is leaving the EU's executive body the take up a senior position at the World Bank.

The development is due to take effect as of January 02, 2017, Georgieva has said in a statement.

Her new appointment means Bulgaria will have to propose a successor.

The World Bank Group headquarters building in Washington, D.C. - Photo: Shiny Things / Flickr

WASHINGTON - The World Bank's Board of Executive Directors on Thursday approved two more projects for Serbia worth a total of 124.9 mln euros (138.9 mln dollars).