site.btaBulgarian Finance Minister Signs Agreement with World Bank on World Bank Centre for Shared Services and Other Functions in Sofia

107 ECONOMY-WORLD BANK CENTRE IN BULGARIA-AGREEMENT

Bulgarian Finance Minister Signs Agreement with World Bank on
World Bank Centre for Shared Services and Other Functions in Sofia


Washington, DC/Sofia, April 13 (BTA) - Bulgarian Finance Minister Vladislav Goranov, who is in the United States to participate in meetings of the World Bank Group and the International Monetary Fund (IMF) in April 12-14, and Managing Director and World Bank Group Chief Administrative Officer Shaolin Yang signed an Agreement between the Government of Bulgaria and the International Bank for Reconstruction and Development (the World Bank) on rendering support for the establishment and functioning of a World Bank Centre for Shared Services and Other Functions in Sofia.

The centre will perform internal corporate and IT operations of the World Bank Group. Other units for financial and administrative services may be added later on, the Bulgarian Finance Ministry said in a press release Saturday.

Bulgaria stood out among the countries wishing to site the centre with its strategic location, stable political and economic environment and availability of a high-skilled work force. The project will be implemented in stages. The first is expected to start in July 2019. The full capacity of the facility is 300 jobs, which is planned to be achieved in five years' time. LY/ZH//