[Federal Register Volume 71, Number 135 (Friday, July 14, 2006)]
[Notices]
[Pages 40174-40175]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-11114]


-----------------------------------------------------------------------

DEPARTMENT OF STATE

[Public Notice 5465]


Determination on U.S. Position on Proposed European Bank for 
Reconstruction and Development (EBRD) Projects in Serbia

    Pursuant to section 561 of the Foreign Operations, Export 
Financing, and Related Programs Appropriations Act, 2006 (Pub. L. 109-
102) (FOAA), and Department of State Delegation of Authority Number 
289, I hereby determine that a 35 million euro equity investment as 
part of a Joint Venture with Gibor-BSR Europe BV for the purpose of 
developing, managing and owning real estate, particularly residential 
projects in capital cities in Romania, Russia, Serbia, Ukraine, 
Croatia, and Bulgaria, and a 25 million euro equity investment in 
Bluehouse Accession Property (II), L.P. a limited partnership to be 
incorporated in Cyprus, will contribute to a stronger economy in 
Serbia, directly supporting implementation of the Dayton Accords. I 
therefore waive the application of Section 561 of the FOAA to the 
extent

[[Page 40175]]

that provision would otherwise prevent the U.S. Executive Directors of 
the EBRD from voting in favor of these projects.
    This Determination shall be reported to the Congress and published 
in the Federal Register.

    Dated: July 10, 2006.
Daniel Fried,
Assistant Secretary of State for European and Eurasian Affairs, 
Department of State.
 [FR Doc. E6-11114 Filed 7-13-06; 8:45 am]
BILLING CODE 4710-22-P