President Plevneliev Meets with World Bank Vice President Tuck
Tuesday, 02 June 2015
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, suchas 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.