The World Bank's knowledge support to unleash Bulgaria's growth potential

June 3, 2010

Sofia, June 3, 2010 - The World Bank’s knowledge support to Bulgaria focusing on post crisis recovery and unleashing growth potential was well acknowledged at the third annual “Improving the Lives of People in Europe & Central Asia” competition. 

The winners in the competition were awarded by the World Bank’s President Robert B. Zoellick in Washington D. C.

The Bulgaria’s Policy Notes “Mapping Bulgaria’s Future: Inclusive Growth & Productive Jobs” was one of 12 awarded projects. The comprehensive set of policy analyses of 16 key sectors were presented soon after the new Bulgarian Government took office in July 2009. The report contributed to the national discussion on how to maintain macroeconomic and financial sector stability in times of rapidly falling government revenues and declining profitability of the corporate sector. The Bank’s advice came just on time helping to focus on fiscal constrains and key sectors reforms. 

"The World Bank was privileged supporting Bulgaria as a new EU member state bringing up the best of our global knowledge. As a long term partner the Bank is committed to continue supporting Bulgaria in accelerating convergence to EU standards", said Florian Fichtl, the World Bank’s Resident Representative to Bulgaria.

"Improving the Lives of People in Europe and Central Asia (ECA) is at the heart of the World Bank’s support to our client countries,” said Philippe Le Houèrou, World Bank’s Vice President for ECA. “We have the great privilege and responsibility of helping governments to overcome poverty and promote growth. The winners of this year’s competition demonstrate real results, including job growth, establishment of small business, and improved enterprise access to financing, improved health care and health protection and rehabilitated water and irrigation systems that have increased crop yields, just to name a few.”

The list of awarded projects in this year completion consists of:
    * Armenia Rural Enterprise and Small Scale Commercial Agriculture Development Project
    * Armenia Lifeline Road Improvement Project
    * Azerbaijan Rural Investment Project
    * Bulgaria Policy Notes
    * Georgia Joint Needs Assessment, Donors Conference, and Progress Report
    * Kyrgyz Republic, Moldova, and Tajikistan Food Crisis Response Projects
    * Latvia Safety Net and Social Reform Special Development Policy Loan
    * Macedonia Real Estate Cadastre and Registration
    * Russia Health Reform Implementation Project
    * Tajikistan Community Agriculture and Watershed Management Project
    * Turkey - Support to the Turkey Health Transformation Program
    * Ukraine Programmatic Financial Rehabilitation Development Policy Loan 1