The European Parliament decided, by 499 votes to 82 with 72 abstentions, to give its consent to the appointment of Iliyana Tsanova as the Deputy Managing Director of the European Fund for Strategic Investments (EFSI).

Regulation (EU) 2015/1017 provides that the Managing Director and Deputy Managing Director of the EFSI are to be appointed by the EIB for a fixed term of three years, renewable once, after approval by the European Parliament following an open and transparent selection process in line with EIB procedures, during which the European Parliament shall be kept duly informed in a timely manner at all stages.

On 19 July 2018, the Steering Board of the EFSI adopted a proposal for the reappointment of the Deputy Managing Director of the EFSI and transmitted this proposal to the European Parliament.

The Committee on Budgets and the Committee on Economic and Monetary Affairs adopted the report by Jean ARTHUIS (ALDE, FR) and Roberto GUALTIERI (S&D, IT) on the proposal for the appointment of the Deputy Managing Director of the European Fund for Strategic Investments.

The committees recommended that the European Parliament give consent to the appointment of Iliyana Tsanova as Deputy Managing Director of the European Fund for Strategic Investments (EFSI).

As a reminder, on 19 July 2018, the Steering Board of the EFSI adopted a proposal for the reappointment of the Deputy Managing Director of the EFSI and transmitted this proposal to the European Parliament.

On 25 September 2018, the Committee on Budgets and the Committee on Economic and Monetary Affairs held a hearing with Iliyana Tsanova, the proposed candidate for the function of Deputy Managing Director of the EFSI, at which she made an opening statement and then responded to questions from the members of the committees.

Iliyana Tsanova is currently the Deputy Managing Director of the European Fund for Strategic Investments (EFSI). Previously, she held positions at the European Bank for Reconstruction and Development (EBRD) in London. In 2013 and 2014, she was Bulgarian Deputy Prime Minister in charge of the management of EU funds in two separate caretaker governments of Bulgaria.

PURPOSE: appointment of the Deputy Managing Director of the European Fund for Strategic Investments (EFSI).

BACKGROUND: Article 7(6) of Regulation (EU) 2015/1017 provides that the Deputy Managing Director of the EFSI is to be appointed by the European Investment Bank (EIB) for a fixed term of three years, renewable once, after approval by the European Parliament following an open and transparent selection process in line with EIB procedures, during which the European Parliament shall be kept duly informed in a timely manner at all stages.

The Steering Board of the European Fund for Strategic Investments (EFSI) had, on 2 October 2015, selected Iliyana Tsanova as candidate for the position of Deputy Managing Director of EFSI. Following a hearing organised by the European Parliament on 14 October 2015, the candidate was appointed by the EIB President for a 3-year term that will conclude before the end of 2018.

CONTENT: at its meeting on 19 July 2018, the Steering Board deliberated the proposal of the EIB President to extend the mandate of the Deputy Managing Director until the expiry of the current EFSI, as stipulated in the Regulation (EU) 2017/2396 (EFSI 2.0).

Given the excellent contribution of the current EFSI management in ensuring delivery of the EUR 315 billion target on investment mobilised , the EFSI Steering Committee adopted a proposal for the re-appointment of Iliyana Tsanova as Deputy Executive Director of the EFSI , which it forwarded to the European Parliament for approval.