Emerging Markets, Frontier Markets

Bulgaria, World Bank Partner To Boost Impact Of European Structural And Investment Funds

Bulgaria Wikipedia

The World Bank’s Vice President for Europe and Central Asia Cyril Muller and Bulgaria’s Deputy Prime Minister for EU Funds and Economic Policies Tomislav Donchev signed today a Memorandum of Understanding (MoU) on partnership and support in the implementation of the European Structural and Investment Funds in Bulgaria for 2014-2020 period.

This agreement marks an important milestone in the World Bank’s longstanding relationship with Bulgaria as it provides the framework for improved implementation of the EU programs along with providing international experience and successful examples from other countries. As the Government of Bulgaria is determined to leverage the impact of the EU funds through better management, it has asked the World Bank to assist in this effort by providing advice on strengthening the government’s capacity in policy and strategy formulation, as well as delivering analysis, diagnosis, sector and project planning, design and implementation advice.

The World Bank stands by Bulgaria in the implementation of the country’s EU agenda,”said Cyril Muller during the MoU signing. “Going forward, we anticipate under the new Country Partnership Framework that Bulgaria will take full advantage of its World Bank Group membership in the implementation of its EU Operational Programs and goals both through government and private sector. The World Bank is strongly committed to continue providing data, analyses and evidence based advisory services in support of the Government’s priorities in the new EU programing period of 2015-2020.

According to Tomislav Donchev,

by the end of the year, all operational programs of the new programming period will have become active and 2015 won’t be a zero year. We have a task – to avoid mistakes already made, to speed up the procedures and to make the whole process more transparent for all participants. In this context the MoU with the World Bank singed today is an important prerequisite to leverage the impact of EU funds for the benefit of all Bulgarians.

Cyril Muller’s visit to Bulgaria is his first visit to the country since he became the World Bank’s Vice President for Europe and Central Asia on July 1, 2015.

This is the second MoU that Bulgaria signs with the World Bank on EU Funds. The first agreement was signed in January 2012 and within its framework the Word Bank has signed six agreements for reimbursable advisory services (RAS) in the areas of innovation, water, roads, agriculture and health.

Three agreements – Innovation RAS, Development and Implementation of a Water and Sanitation Strategy RAS, and Health Financing RAS – have been successfully completed. Under the Health Financing RAS, for example, the World Bank provided analytical and advisory services for the health sector, with a focus on health financing, and has produced three major reports focusing on different aspects of health spending. The Water and Sanitation Strategy RAS supported the Ministry of Regional Development in their drafting of a 10-year water supply and sanitation strategy.

Two more advisory service agreements signed under the 2012 MoU are currently under implementation. The Road RAS for the improvement of the road sector performance and increasing the absorption of EU funds has just been expanded to provide advisory services for establishing national e-tolling system. The Hydromelioration RAS provides support to the Ministry of Agriculture and Food in developing a strategy for irrigation, drainage and flood protection in rural areas, including identification of priority investments and preparation of two flagship projects in the irrigation service areas.

The latest agreement was signed on August 7, 2015 with the Bulgarian Energy Holding (BEH) for World Bank advisory support for Bulgaria Power Sector Financial Stabilization and Market Liberalization.

SOFIA, September 1, 2015


Courtesy of The World Bank, © 2015 The World Bank Group

Discussion

2 thoughts on “Bulgaria, World Bank Partner To Boost Impact Of European Structural And Investment Funds

  1. Reblogged this on World Peace Forum.

    Like

    Posted by daveyone1 | September 7, 2015, 2:48 pm

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