site.btaKristalina Georgieva Resigns from European Commission, Returns to World Bank

Kristalina Georgieva Resigns from European Commission, Returns to World Bank

Brussels, October 28 (BTA correspondent Nikolay Jeliazkov) - The European Commission said on Friday Commission Vice-President Kristalina Georgieva, responsible for Budget and Human Resources, is resigning from her post in order to take up a new responsibility, as of 2 January 2017, as Chief Executive Officer of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), known collectively as the World Bank.

Georgieva's resignation will take effect at the latest on December 31, 2016 (midnight), depending on the development of the ongoing budgetary negotiations.

"It is with great regret that I have accepted Kristalina Georgieva's decision to resign from the European Commission. The fact that she has been asked to take a leading role in the World Bank is an acknowledgment and recognition of Kristalina Georgieva's many talents and her professionalism. I sincerely congratulate her on this new role," Commission President Jean-Claude Juncker said in a statement.

"Kristalina Georgieva has been an excellent Vice-President during the first two years of the Commission which I have the honour to preside. I have always been glad to rely on her determination to deliver, her strategic advice and her friendship. Kristalina Georgieva is an experienced politician for whom I have great respect and I want to thank her for her loyal and committed work as Vice-President of the European Commission. She will be greatly missed," Juncker said.

Gunther H. Oettinger, Commissioner responsible for Digital Economy and Society, has been asked to succeed Georgieva in her portfolio.

The vacancy caused by Georgieva's resignation in the European Commission will be filled for the remainder of her term of office by a Member of Bulgarian nationality, appointed by the Council, by common accord with the President of the Commission and after consulting the European Parliament. Juncker said he stands ready to discuss swiftly with the Bulgarian Prime Minister Boyko Borissov potential names for a new Commissioner of Bulgarian nationality as well as the allocation of a possible portfolio.

Writing on her Facebook page, Georgieva said: "It has been an honour to serve for the last seven years both the European Union and my country as Commissioner for Humanitarian Aid and, in my current role, Vice President responsible for Budget and Human Resources.

When I arrived at the European Commission in 2010 from the World Bank I was leaving behind not just a job and an organisation that I loved, but a sector too: the world of Global Development. I thought long and hard about my decision to accept the post of Chief Executive Officer IBRD/IDA at the World Bank Group. But finally I could not turn down the opportunity to return to a field which continues to fill me with passion for the work and the possibilities it brings for making an enduring difference to Europe and the rest of the world.

I want to thank President Juncker from the bottom of my heart for the opportunity to work in his terrific team. I will be returning to Washington DC in the New Year. In the meantime I will continue to work without distractions on important pending issues. I look forward to a positive outcome to the negotiations on the Draft Budget 2017, as well as addressing our management mobility and talent initiatives.

Now is not the moment for farewells; there is much work still to be done. But I will always be grateful for the camaraderie and the deep bonds of friendship - both professional and personal - which I have forged in Brussels."