POST Online Media Lite Edition


Bulgaria, World Bank frame partnership for next six years

Staff writer |
World Bank Vice President for Europe and Central Asia, Cyril Muller, visited Bulgaria to agree with the government on the partnership framework for the next six years.

Article continues below

The World Bank’s future cooperation with Bulgaria will be anchored around three priority areas, namely institutions, skills, and public investment.

The new Country Partnership Framework for Bulgaria (CPF), currently under preparation, is expected to cover the period of six years, but will be reviewed every two years to reassess priorities and to add or remove specific objectives and activities in the light of developments and changes in priorities.

In the first two years the World Bank will focus on supporting resilience and stability of the financial sector; energy sector reforms, including energy efficiency; and Bulgaria's EU agenda in accessing and absorbing EU Structural Funds.

During the visit, a Reimbursable Advisory Services Agreement was signed with the Ministry of Regional Development and Public Works for the development of a financing strategy, regulatory capacity building and increase of service efficiency in the Water Supply and Sanitation (WSS) sector.

According to the contract, in the coming 28 months the World Bank will be engaged in delivering ten outputs, such as developing WSS sector Financing Strategy aimed at promoting financial sustainability and mitigating tariff impacts on the customers.

The agreement was signed by the Bulgarian Minister of Regional Development and Public Works Lilyana Pavlova and World Bank’s Country Manager for Bulgaria Tony Thompson.

What to read next

John Lewis Partnership profit down 75%
Nigeria's Unity Bank records 900% jump in profit
Petroceltic revenue for six months $38 million