Slovenian Parliament Ratified the Agreement on Establishing the CEF

National Assembly of the Republic of Slovenia adopted the Act Ratifying the Agreement on Establishing the Center of Excellence in Finance (CEF) on June 12, 2014.

The Agreement that is establishing the CEF as an international organization will come into force when additional two countries ratify it, hopefully before 2015. For the new international organization to become operational, it also has to conclude headquarters Agreement with the Government of Slovenia that is hosting the CEF.

The process of the CEF becoming an international organization was officially launched on September 3, 2013 in Bled, Slovenia when five countries – Bulgaria, Croatia, Macedonia, Montenegro and Slovenia – signed the Agreement. Bosnia and Herzegovina signed the Agreement subsequently in Sarajevo, BIH in November 2013 and Moldova in Ljubljana in December 2013. Romania was the eighth country that joined the Agreement. It signed it last month in Ljubljana.