03.04.2012

"The relations between Bulgaria and the World Bank (WB) are an example of good and straight partnership" Deputy Minister of Finance Boryana Pencheva stated at the opening of the first annual review of Bulgaria Country Partnership Strategy 2011-2013 implementation. Peter Harold, WB Country Director for Central Europe and the Baltic Countries, Markus Repnik, WB Country Manager Bulgaria, MoF experts and Deputy Ministers of MIET, MRDPW, MEW, MTITC, MLSP, MH, MAF and the Secretary General of MEYS took part in the working meeting.

The Deputy Minister of Finance expressed satisfaction with the flexible way the partnership with the International Financial Institution was being realized. In the context of the Strategy Pencheva reported actual implementation of a number of projects related to investment in infrastructure and emphasized that Bulgaria had stable public finances. "In a European context that is very positive for Bulgaria and this will help up attain our goal for accelerated economic growth", the Deputy Finance Minister said. She added that the Partnership Strategy was yet another instrument whereby the achievement of the objectives set in the National Reform Program (NRR) would be helped. Cooperation with the WB expands towards innovative and perspective sectors and is based on advisory services of the highest quality, Deputy Minister Pencheva further stated. She appreciated the analyses provided to the Bulgarian Government by the WB and thanked for including the country in international initiatives, such as the provision of the report "Golden Growth: Restoring the Lustre of the European Economic Model". Bulgaria is among the five financially most stable EU Member States and we will build on this basis, the Deputy Finance Minister said in conclusion.

On the other hand Peter Harold emphasized the three areas on which the partners' efforts would be focused in the Strategy - provision of analytical advisory services in support of the NRR, fee-based analytical advisory services focused on accelerating EU funds absorption and supplementary financing in areas where there was no European one. He confirmed the WB support for the NRR and stated that next year efforts would be focused on its implementation.

During the discussions the Deputy Ministers and line ministries experts presented the priority areas and projects, in the implementation of which WB participation was envisaged. Both parties agreed that the level of cooperation was currently good and outlined new areas of partnership based on knowledge among which could be traffic safety, analysis of Bulgaria's long term growth model, as well as assessments of fiscal policies and the impact of the aging population on the economy.