Elitsa Ivanova

 

Municipal councilors and an MP will become a live shield to defend Kjustendil-Gjueshevo railway line.

Municipal councilors from Kjustendil and BSP MP Ivo Atanassov will stop the express train from Sofia on Monday lying on the railroad track, it transpired yesterday after the sitting of the local parliament. Their protest is staged in support of the residents of high-mountain villages near the Macedonian border, who from October 1 will be left without transportation. Over 2000 people threatened that they will lie on the track in protest. To them the train is not an extra but a vital necessity, say members of the strike committee in support of Kjustendil-Gjueshevo line. The government gave up the construction of the so-called Corridor 8, which is a political gaffe, comment local authorities. The rail-road sector between Kjustendil and Gjueshevo has the status of an international route and cannot be closed. The trains are stopped temporarily, said Minister of Transport Plamen Petrov yesterday in Parliament. The Minister assured that busses will be provided for passengers. All in all 106 trains serving 10-12 destinations will stop running from October 1. Municipalities throughout the country are prepared to join in the protests.

 

 

Bulgaria will close down Reactors III and IV of Kozloduy NPP in 2006 without setting the condition the life of the reactors to be prolonged after a technical checkout made by the EC, it transpired yesterday from the addendum to Chapter Energetics. Copies of it were shown at Parliament by BSP deputies. Minister admitted that they voted for it on Thursday without seeing the additional conditions of the future contract, because the paper was not enclosed in the draft decision of the Council of Ministers. It is a grave blunder, MPs commented. Socialists warned they were to contest the cabinet's decision in the Supreme Administrative Court.

 

 

Gen. Boyko Borissov is among the guests invited for the wedding of Kalina and Kitin Munos, 'Standart' learnt. I cannot confirm this information officially, Galya Dicheva said. The invitation cards for the wedding party are surprisingly plain and have the princess' personal coat of arms on them. In Bulgaria the royal wedding will continue for 3 days. The first guests are to arrive from Madrid by a charter flight as early as Friday (October 25). The NMS MPs toady to the members of the King's family giving them presents without even having an invitation.

 

 

Nevena Mircheva

 

Balkantourist is touroperator '2002.

 

MG Hotels and Resorts was awarded the prize "Investor '2002 in Tourism". The competition was organized by the Ministry of Economy for a first time. In the period 2001-02, the MG invested levs 106 million. Only in the Paradise Beach resort the investments account for 37 million. Levs 27 million were invested in the hotels Dolphin Marina and Rubin 2 in the St Elijah resort, sources from the company elaborated. Balkantourist was awarded the prize Touroperator '2002.

 

 

Standartnews
Stefan Kioutchukov

US experts in gambling management will teach their Bulgarian colleagues how to carry out checkups in casinos. The experience of the Americans will be a topic of discussion between ex-governor of Nevada and chairman of governors' board Bob Miller and chairman of the state gambling commission Georgi Petrov who will meet on Monday. Bob Miller is a member of the Board of Directors in American West Airlines and World Association of Gold and Silver Mines.

 

 

94 project of Bulgarian scientific teams are among approximately 11 000 project ideas for integrating European research and fostering networks of scientific excellence. They are now published by the European Commission on its online research and development information service CORDIS (www.cordis.lu). The ideas, submitted by more than 60 countries, represent the results from a wide consultation process with Europe's research community on the scientific and technological priorities of the new EUR 17,5 billion EU Sixth Research Framework Programme (2002-2006), which will be launched officially in November 2002. Organisations from EU candidate countries will participate for the first time under exactly the same conditions as those from the Member States. For more info check http//eoi.cordis.lu

 

 

 

Istanbul, September 28 (BTA exclusive by Metin Karagyullu) - Bulgarian former president Zhelyu Zhelev was among the speakers at the Eurasian Economic Forum in Istanbul during a session on the fight against terrorism and problems to international cooperation.

 

Among the participants in the session were politicians and military experts of the Eurasian region.

 

In his address Dr. Zhelev stressed Bulgaria's active involvement in the anti-terror efforts. It is part of the international anti-terror coalition and will remain there in future. On the issue of a possible preventive strike against Iraq, Bulgaria has taken a guarded position and believes that the important thing is to send UN arms inspectors in Iraq, he said.

 

Dr. Zhelev told BTA that the significance of the conference was in that it offered a forum for discussing the differences in the positions of the countries.

 

Stoyan Popov of the Bulgarian Air Force spoke about the reforms in the Bulgarian army. He stressed that the main goal of the reforms is to introduce the NATO standards as a step towards NATO membership.

 

Gen. Cevik Bir of Turkey underscored in his presentation the cooperation among the Balkan countries in fighting terrorism and its importance for stability in Southeastern Europe. He said that Turkey actively supports the Bulgarian candidacy for NATO membership and that Ankara expects to see Bulgaria join the Alliance very soon to make a further contribution to stability and security in the region.

 

 

 

Azerbaijani Defence Minister Col-Gen Safar Abiyev paid an official visit to Bulgaria on 25-27 September at the invitation of this country's defence minister, Nikolay Svinarov.

 

The two ministers held their official meeting after laying a wreath on the grave of unknown soldier on the first day of Abiyev's visit. The sides discussed military cooperation between the two countries at this meeting. An agreement on defence cooperation between Azerbaijan and Bulgaria was signed as a result of this meeting.

 

The agreement envisages cooperation in the following areas: defence,
security, military-technical, military economic, military-scientific,
military-medical, and personnel. The agreement also envisages cooperation within NATO's Partnership for Peace programme.

 

At a meeting with Stanimir Ilchev, chairman of the Bulgarian parliamentary commission for foreign policy, defence and security, Abiyev informed him about the conflict between Armenia and Azerbaijan in detail and said that Azerbaijan would never reconcile itself to the occupation of its lands.

 

Safar Abiyev visited a range of military facilities and met the head of the General Staff of the Bulgarian Armed Forces, Nikolay Kolev, during his visit to Bulgaria.

 

 

 

Hamitabat, September 28 (BTA special correspondent Ginka Borissova) - Bulgarian Energy Minister Milko Kovachev and his Turkish counterpart Zeki Cakan commissioned officially on Saturday the 400 kV Sakar power line, a second link between the two countries' power grids. At the Hamitabat power plant in Turkey, the two ministers pressed a button for the symbolic launch of the power line.

 

The new facility will increase power exchange and secure the Bulgarian power supplies to Turkey to the amount of some 4,000 million KWh a year with a maximum capacity of 700 MW.

 

The power line was built under a 1999 long-term agreement on electricity export between Bulgarian electricity supplier NEK and the Turkish energy company TAES. The Bulgarian part of the project was funded by NEK and absorbed 53 million leva.

 

After the commissioning of Sakar Bulgaria will be exporting electricity to Turkey via two direct links: the 400 kV Edirne power line from the Maritsa Iztok 3 power plant to the Babaeski plant in Turkey; and Sakar from Maritsa Iztok 3 to Hamitabat.

 

Sakar is 150 km, of which 60 km are on the Bulgarian side and 90 km on the Turkish.

 

Apart from increasing supplies, the new power line will also improve the management of power transmission from Bulgaria to Turkey, NEK chief engineer and Board of Directors member Mityu Hristozov said at the ceremony. He explained that Sakar will also secure the reliable operation of the Turkish power grid in parallel with the European electricity system UCTE through the Bulgarian power grid.

 

"If we remained lone players, our two countries would have been thrown out by the globalization and the dynamics of the energy market," the Bulgarian Energy Minister said. According to him, the new time requires partnership and coordination for implementing projects of major importance for the region.

 

 

 

Hamitabat, September 28 (BTA special correspondent Ginka Borissova) - In early October in Vienna, Hungary and Austria will join a cooperation protocol of the gas companies of Bulgaria, Turkey and Romania, Energy Minister Milko Kovachev said Saturday at a ceremony for the launch of a new power line between Bulgaria and Turkey at the Turkish power plant of Hamitabat.

 

Kovachev also said that this year, like last year, Bulgaria will export some 7,000 million kWh of electricity. About half of it will be for Turkey.

 

He said he had not discussed with his Turkish counterpart Zeki Cakan the Gorna Arda project.

 

"We expect the upcoming Ankara visit of Prime Minister Simeon Saxe-Coburg-Gotha to boost bilateral relations," the Energy Minister said.

 

 

 

Euromoney Magazine Names Velchev Finance Minister of the Year.

 

Washington D.C., September 28 (BTA special correspondent Dimiter Anestev) - Milen Velchev is named Finance Minister of the Year by Euromoney Magazine. Euromoney announces its choice in its September issue.

 

Speaking to Bulgarian reporters in the IMF headquarters in Washington D.C., Milen Velchev said that Bulgaria is considering a change in its agreement with the IMF.

 

He explained that the idea is to make the agreement a protective instrument, which means that Bulgaria will get tranches only in case it really needs them.

 

The agreement can be amended in January at the earliest, when the issue can be considered by the IMF Board of Directors.

 

Bulgaria will continue to fulfill its commitments to the Fund, said the Finance Minister. According to him, a switch to such a protective agreement will be a very strong signal for international investors because it will show that Bulgaria does not wants to use IMF money at any rate unless it is absolutely necessary.

 

Velchev had a working breakfast Saturday with Citigroup Vice President Stanley Fischer. Fischer reportedly said the Bulgarian idea for creating a risk capital fund is good but on condition that it is established with private capital.

 

 

 

Bulgaria Considering Switch to "Protective Agreement" with IMF Washington D.C., September 28 (BTA special correspondent Dimiter Anestev) - Bulgaria is considering a change in its agreement with the IMF to make it "protective".

 

Speaking to Bulgarian journalists in the IMF headquarters in Washington D.C., Bulgarian Finance Minister summed up the Saturday talks of the Bulgarian delegation with IMF Mission Leader for Bulgaria Jerald Schiff. Before that Velchev and Economy Minister Nikolai Vassilev had a working breakfast with Citigroup Vice President Stanley Fischer.

 

Velchev said that at the meeting with Schiff the two sides discussed the idea of making the agreement with the IMF what he called "protective". "This is an idea on which neither side has a final decision," Velchev added.

 

If both sides accept it, they will continue the negotiations on the size and timing of the tranches. They money will be made available but will be utilized only if and when Bulgaria absolutely has to, Velchev explained.

 

According to him, Bulgaria now needs less and less of the Fund money. "It would be best if the country has the security of being able to use IMF funding, without having the tranches remitted on a regular basis and then having to pay interest on it."

 

Over the next couple of months, the two sides will be discussing the proposal.

 

The Finance Minister expects a final position in November and then the two sides can put the scheme into practice as of January, when the IMF Board will have to take a final formal decision.

 

The next IMF tranche is due in early 2003.

 

The new scheme may be first applied to the new tranche, and then Bulgaria will not take the money but reserve the right to utilize it when and if it needs it.

 

The Finance Minister believes that the switch to such "a protective agreement" will send very strong signals to the world financial circles. The idea has the strong support of the IMF Mission for Bulgaria and the country hopes to hear IMF praise for its confidence that it can manage on its own resources, Velchev said.

 

Even with the new arrangement, Bulgaria will continue to fulfill its commitment to the IMF, the Finance Minister said.

 

He added that Bulgaria gets from the Fund less than it does from the World Bank and other sources.

 

Bulgaria is also considering early payment on its short-term debts. It is yet to be decided in the coming months whether such payments will be made to the IMF or other creditors, Velchev said.

 

The agenda of Velchev and Vassilev's meeting with Stanley Fischer was the government idea to set a risk capital fund to invest in increasing the capital of Bulgarian small and medium-sized enterprises.

 

The project failed to solicit IMF support during the IMF Mission to Bulgaria last week but Velchev believes that the Fund has since assumed a more flexible position. His personal view is that there should be no obstacles provided that there is private matching to the government investment. Also, the fund should not be run by the Government.

 

Stanley Fischer, who was on the IMF management before moving to Citigroup, is supportive of the risk capital fund project. He expects such a fund to help secure much needed investment in risk capital for small and medium-sized enterprises.

 

Even though there is a shortage of such investment in Bulgaria at the moment, bank credits have become more available and their nominal value has doubled over the last two years, Velchev said.

 

The Finance Minister believes that the government will be making a profit from its investment in the fund.

 

JP Morgan have expressed interest to participate as a fund raiser and fund manager. Citibank too reportedly want to be involved.

 

Later in the day Economy Minister Nikolai Vassilev said that after a final decision is taken to set up a fund, the government will invite a competition for fund manager which will be open for all banks and companies with relevant experience.

 

The latest issue of the influential Euromoney Magazine has named Milen Velchev Finance Minister of the Year. Velchev will be officially awarded here Monday.

 

Euromoney carries a profile of the Bulgarian Finance Minister recalling his London experience from the Merrill Lynch division for developing markets and before that his service as a diplomat of the Bulgarian Foreign Ministry.

 

The magazine makes an overview of Velchev's accomplishments in the negotiations with the IMF, the subsequent upgrading of the Bulgarian credit rating and the first external debt bond swap, which improved the structure of the Bulgarian foreign debt.

 

 

Levski won a difficult victory vs Naftex at the 'Gerena' stadium. After many fouls of both teams and not very interesting play during the second half of the game Levski didn't succeed to score again.