World Bank To Advise Bulgaria in Water, Innovations Strategies Development

World Bank To Advise Bulgaria in Water, Innovations Strategies Development

The World Bank signed two contract agreements with Bulgaria to advise the country in the development of its national strategies in water supply and innovations, the regional development ministry said.

Both agreements are signed within the framework of the Memorandum of Understanding (MoU) signed between Bulgarian government and the World Bank for partnership and support in the implementation of the EU structural instruments, the ministry said in a statement on Thursday.

The two strategies will be crucial for Bulgaria to prepare for the next EU programming period 2014-2020.

"Innovation is our top priority and we are committed to establishing innovations-friendly environment in Bulgaria enabling Bulgarian business to grow", the statement quoted economy minister Delyan Dobrev as saying.

By the end of 2013, Bulgaria will have the access to 7.0 billion euro ($8.58 billion) secured under EU structural and cohesion funds. Though Bulgaria has significantly increased the pace of funds absorption over the last 12 months, it aims to fully absorb the entire budget of the current programming period 2007-2013 and prepare for the next one.

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