site.btaPresident Plevneliev Meets with World Bank Vice President Tuck

President Plevneliev Meets with World Bank Vice President Tuck

Sofia, June 1 (BTA) - President Rosen Plevneliev met with World
Bank Vice President for Europe and Central Asia Laura Tuck on
Monday to discuss ways to deepen the Bank's partnership with
Bulgaria, the President's Press Secretariat reported.

Tuck has come to Sofia for an annual regional meeting of the
World Bank and the International Monetary Fund (IMF) which was
held on May 30.

Plevneliev and Tuck exchanged opinions on how Bulgaria could
draw maximum benefit from its membership of the World Bank Group
by receiving advice on EU funds absorption, obtaining strategic
financing and using expertise.

Bulgaria and the World Bank are drawing up a new Country
Partnership Framework programme which will lay down the
conditions of support from the World Bank Group for the country
in the next five years, the President's Press Secretariat said.
The first of the two stages of the process includes making a
systematic review of the country. Three areas have been
identified with potential to drive positive change: upgrading
the institutional framework for good governance, including the
judicial system, the financial sector and the public
administration, and improving public investment programmes, such
as those for the road and energy sectors; improving the working
skills of the Bulgarian people; and streamlining public
expenses, particularly in the field of health care, long-term
care and the pension system. The systematic review will be made
accessible to the general public.

Plevneliev told Tuck that Bulgaria has much potential to expand
its economy and develop various sectors. In order to unlock that
potential, the country needs targeted policies, and the World
Bank can provide support to this end, he said.

According to Plevneliev, the World Bank can help Bulgaria with
its expertise in the health care reform and in preparing
projects for funding under the European Commission's investment
plan. Bulgaria could also use World Bank cooperation in funding
small and medium-sized enterprises, promoting innovation,
reforming the water and sewerage sector, boosting energy
efficiency and carrying out agricultural projects, he said.

Tuck noted that the World Bank Group has a tradition of strong
and fruitful cooperation with Bulgaria.

Since joining the World Bank Group in 1990, Bulgaria has
obtained access to 4 billion US dollars in funding for reforms
in such areas as banking, revenue administration, health care,
social care, nature conservation, the manufacturing industry,
the processing of farm products, infrastructure and renewable
energy.