Romania’s Finance Ministry has signed a contract of over EUR 1,700, without VAT, with human resources company Transearch International, for selecting the nine board members of the state-owned lender CEC Bank.

“The aim is to streamline, develop and exploit the potential of this institution the ministry controls,” reads the Finance Ministry’s press release.

Finance minister Anca Dragu said that the process of selecting the management of CEC Bank was only the beginning, and would continue for other companies subordinate to the ministry.

Human resources companies were able to compete for this contract if they had a minimal turnover of EUR 7.3 million and at least 50 employees.

editor@romania-insider.com