site.btaRegional Development Ministry: World Bank Ready to Support Rehabilitation of Bulgarian Energy Sector

Regional Development Ministry: World Bank Ready to Support Rehabilitation of Bulgarian Energy Sector

Sofia, September 11 (BTA) - The World Bank is ready to support
Bulgaria's energy sector reform, the Regional Development
Ministry said on Thursday.The World Bank will support the government in elaborating a
complex systemic approach which comprises measures balancing the
energy system, and will advise the Economy and Energy Ministry
and the State Energy and Water Regulatory Commission (SEWRC)
about analytical tools and long-term decision-making.

This emerged after Deputy Prime Minister for Economic Policy
Ekaterina Zaharieva met with Anthony Thompson, the World Bank's
new Permanent Representative for Bulgaria, and Mamta Murthi,
World Bank Country Director for Central Europe and the Baltic
Countries.

One of the main goals of this support is to improve
substantially the regulator's administrative capacity and to
place policies in the energy sector on a clear market basis, the
Ministry said.

Zaharieva presented the key objectives of the newly established
Energy Board, whose number one task is to come up with adequate
suggestions for bringing things in the energy sector to normal.
The sector's deficit of 3,000 million leva is putting the system
at a risk of collapse. The Energy Board will also discuss the
scope of World Bank activities in support of the energy sector.

The previous caretaker government laid the beginning of close
cooperation with the World Bank in the energy sector in 2013,
the Regional Development Ministry said. At the time the European
Commission and the World Bank prepared an analysis of the
sector and recommended steps for its rehabilitation. Experts
note this is a good example of fruitful cooperation which should
continue, said the Ministry.

Zaharieva said: "Our partnership with the World Bank is of key
importance for the transparency and effectiveness of
decision-making and is in the interest of the whole society."
She added that the caretaker government should spare no effort
to improve administrative capacity and draw up a working plan
for energy sector stabilization with the help of proven
international experts.

Mamta Murthi said at the meeting that Bulgaria can rely on the
World Bank's support for coping with the situation in the energy
sector, the Regional Development Ministry said.