Bulgaria, World Bank Sign Agreement for Knowledge Services in the Current EU-programming Cycle

SOFIA – With today’s signing of a new Framework Agreement for Reimbursable Advisory Services, the Government of Bulgaria will be able to benefit from the World Bank’s global knowledge and expertise in the 2021 – 2027 EU-programming period. The agreement, signed today by Assen Vassilev – Deputy Prime Minister for EU Funds and Minister of Finance and Gallina A. Vincelette, Director for the European Union countries at the World Bank, enables the Government of Bulgaria to leverage critical international experience from the World Bank, including advice on policy and strategy formulation, in-depth sector analysis, design, and project planning and implementation support.

The new agreement continues a long-standing partnership as Bulgaria approaches the 30th anniversary of its World Bank membership. It supports the country’s European income convergence ambition for an inclusive, green, digital, and resilient economy, while protecting its people in the face of adverse shocks stemming from the pandemic and the war in Ukraine. Specific areas of collaboration include strengthening institutions, improving public spending and service delivery, as well as enhancing the sustainability of Bulgaria’s growth model.

“The World Bank is honored to be one of Bulgaria’s partners of choice for global knowledge and advisory support,” said Gallina A. Vincelette, Director for the European Union Countries at the World Bank. “We will continue supporting Bulgaria in the medium term to make the most of its membership of the World Bank Group by providing financing, advisory and technical assistance”, added Vincelette.

According to Assen Vassilev, Deputy Prime Minister for EU Funds and Minister of Finance “the Agreement will support government’s efforts for more effective absorption of EU funding during the current EU-programming period. Addressing inequalities and improving living conditions for Bulgarians requires a strong partner and we are pleased to be working with the World Bank in this area”.