Romania's representative at the International Monetary Fund (IMF) Mihai Tanasescu will become vice-president of the European Investment Bank (EIB) starting August 1, accordin to Agerpres agency. Romania will thus be represented for the first time at the EIB.
Tanasescu will become a member of the bank's Managing Committee, which comprises the EIB president and its eight vice-presidents. Tanasescu will take over the office from Greece's Plutarchos Sakellaris.
Tanasescu's jurisdiction will be over the EIB activities in Greece, Cyprus, Denmark, Ireland, the ACP (Africa, Caribbean and Pacific countries), and South Africa.
The European Investment Bank (EIB) is the European Union's Bank. Its shareholders are the 27 member states of the Union, which have jointly subscribed its capital. The EIB's role is to provide long-term finance in support of investment projects.
After Tanasescu's leave, the office of Romania's representative at the IMF will be taken over by National Bank of Romania's Director of Operations Serban Matei. Matei was appointed to this position in the autumn of 2010. Previously, he was the deputy director of the same department.