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Bulgarian National Bank Leads Twining Project with Montenegro

Date: 02.04.2009

The Bulgarian National Bank(BNB) will lead the EUR 1,2 M project "Reinforcement of Regulation and Control Capacity of Financial Regulators" of Montenegro.

The BNB press office has announced that the European Commission has chosen the Bulgarian institution after an open tender.

It is the first time that a Bulgarian public institution will lead a large twining project, offering institutional capacity in such an important field, and in the state of global financial crisis. Among Bulgaria's partners are the Dutch central bank in the fields of bank supervision, and money laundering fight, and the Financial Supervision Commission, which will work with funds market.

The project aims to establish a longterm economic stability and growth, and it will last for 18 months.

BNB has participated in two such twining projects as a beneficiary, and has helped in two more - Serbian National Bank and Central Bank of Egypt. BNB is interested mostly in Balkan region projects.

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