The World Bank Group works with countries in Europe and Central Asia to help improve people's lives and achieve shared prosperity in a variety of ways, including through financial lending and analytical and advisory services. Our work aims to help countries achieve better competitiveness, more inclusive growth, and to adapt to climate change and improve energy efficiency.
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June 6-7 hackathon will develop mobile applications to report governance irregularitiesSOFIA, May 27, 2015 — A team of young Bulgarian nationals working at the World Bank in Sofia is organizing a live... Show More + competition for IT developers in the country to work on mobile applications for reporting governance irregularities.Sponsored by the Youth Innovation Thrust Fund at the World Bank Group and supported by the leading IT companies and universities in the country, the goal of the event is to develop a one-stop shop mobile application that allows citizens to send signals from their cell phones about governance irregularities directly to the responsible government institution. This application allows people to take a bigger part in governance and urges institutions to act upon on citizens’ concerns.The two-day event, scheduled for June 6-7, 2015 at the Software University in Sofia, is expected to get together young IT developers to work on a comprehensive mobile application. At the hackathon teams will compete to develop the best mobile application ideas, guided by experienced mentors and the winners will complete the product as part of an internship with leading IT companies."Bulgaria has a vibrant IT and ICT sector, and has positioned itself amongst the best outsourcing IT destinations in the world,” said Tony Thompson, World Bank Country Manager for Bulgaria. “Through this event, we are supporting the government’s efforts to strengthen governance and promote citizen’s participation. But the most intriguing element, is mobilizing and encouraging young people through technologies to make a contribution to improving governance in the country.”For those interested in taking part in the competition, please visit here. Show Less -
VIENNA, May 27, 2015 ― Senior officials including deputy ministers of finance of six South East European countries* and senior representatives of the World Bank and the European Commission are meeting... Show More + today and tomorrow in Vienna to take stock of financial reporting progress and to launch a new program. The Road to Europe: Program of Accounting Reform and Institutional Strengthening (EU-REPARIS) will support participating countries’ efforts to modernize their financial reporting systems and align them with the EU acquis communautaire.“Restoring economic growth--and making that growth more inclusive by creating jobs and eliminating barriers to labor market participation--are the top priorities for the countries of the Western Balkans” said Ellen Goldstein, World Bank Country Director for South East Europe “Governments have a shared understanding that this requires a business environment conducive to investment. Transparent and accurate financial reporting is a pre-requisite for serious investors and improves access to credit for expansion and job creation.”The EU has developed over the years a comprehensive legislative framework to protect investors and ensure adequate levels of transparency in the market. Corporate financial reporting is one element of this framework, and a building block of a well-functioning market economy. Trust in financial information can especially improve access to finance for small- and medium-enterprises (SMEs).“As candidates or potential candidates for EU enlargement, the REPARIS countries have made significant progress in aligning their financial reporting frameworks with that of the EU.”said Henri Fortin, Head of the World Bank’s Centre for Financial Reporting Reform (CFRR). “The new program will help them complete this process with a focus on SMEs which represent more than 99 percent of businesses in the region. We look forward to supporting countries in developing their accountancy professions and creating regulatory systems conducive to SME growth,"EU-REPARIS is funded by the EU, managed by the CFFR, and implemented as part of the EU’s Western Balkans Enterprise Development and Innovation Facility (WB EDIF). It offers participating countries analysis and advice, learning and skill development, know-how and knowledge transfer, and technical assistance and institutional strengthening to help them effectively implement financial reporting reform.Morten Jung, Head of Unit, Western Balkans Regional Cooperation and Programmes, DG Neighbourhood and Enlargement Negotiations at the European Commission, offered participants his encouragement, “Your commitment to developing high quality corporate reporting systems contributes to ongoing closer association and economic integration with the EU, encourages private sector growth and SME development, and offers opportunities for investment and job creation.”* Albania, Bosnia and Herzegovina, Kosovo, the FYR Macedonia, Montenegro, and Serbia. Show Less -