Finance Minister Mouravei Radev Saturday conferred with the acting President of the European Bank for Reconstruction and Development (EBRD) Charles R. Frank Jr. within the framework of the Annual Meeting of the Bank's Board of Governors in Riga. "The Bank's operations will become very effective during the period when the private sector is emerging as a key motor force of economic growth in Bulgaria. We would like the EBRD to become more actively involved in the restructuring of the monopolies," Radev emphasized. "We are interested in stepping up our operations in Bulgaria," Frank said for his part. The EBRD is particularly interested in electricity distribution," the acting EBRD President noted. "Bulgaria is the best place for investments, and I expect the EBRD to lend and invest in that country EUR 100 million annually in the coming years," said the Director of the bank's Bulgaria Country Team Jean-Marc Peterschmitt. He specified that the EBRD wanted to open credit lines for small and medium-sized enterprises in Bulgaria. Other investment priorities target the private sector, municipal services and the financial sector. The EBRD expects the further development of the large banks, the privatization of the last remaining state-owned banks, and the merger of the smaller Bulgarian banks. By end-April 2000, the EBRD has signed 35 investment equity projects in Bulgaria totalling EUR 358 million (six in the state sector for 185 million and 29 in the private sector for 173 million). Disbursements have reached EUR 314 million. The bank's approved projects have mobilised total funding of EUR 1,500 million for Bulgaria. In addition, 31 technical co-operation projects totalling EUR 8.7 million have been approved