site.btaBulgaria and European Bank for Reconstruction and Development Discuss Cooperation

Bulgaria and European Bank for Reconstruction and Development Discuss Cooperation

Sofia/London, March 8 (BTA) - Bulgarian Deputy Prime Minister and Education and Science Minister Meglena Kuneva met with Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD), in London on Tuesday to discuss the country's further cooperation with the bank, the Bulgarian government's press service reported.

Sir Suma said that after a few years of stagnant relations the EBRD has a very clear strategy for Bulgaria. He welcomed the government's reform efforts and the push to adopt rigorous anti-corruption legislation which will inevitably have a positive impact on the business climate. The EBRD aims, among other things, to help make Bulgarian businesses more competitive, he said.

Kuneva reviewed her government's efforts to fight corruption, build an electronic government system and improve public procurement practices. She thanked the EBRD for helping Sofia deal with the Corpbank crisis. She noted that bilateral cooperation should be based on good planning and a balance between supporting small and medium-sized enterprises and aiding infrastructure projects.

Kuneva and Sir Suma discussed possible EBRD support for Bulgaria in the field of science. The minister noted that innovative practices and start-up companies can boost and modernize the national economy.

The sides also looked at the possibility of Bulgaria joining the EBRD Investment Climate and Governance Initiative (ICGI). They agreed to conduct a preliminary review in order to identify problem areas which could be addressed through joint projects. The ICGI will be discussed again during Sir Suma's visit to Sofia in September.