The Bulgarian Post
2006-06-14 07:59:26

The World Bank will grant up to € 238 million ($300) loans to Bulgaria says the new bank strategy for the period 2007 - 2009. The information was disclosed Bulgarian government officials.

The World Bank will grant up to € 238 million ($300) loans to Bulgaria says the new bank's strategy for the period 2007 - 2009. The information was disclosed Bulgarian government officials. The document shows World Bank’s support for Bulgaria's steady economic growth and successful joining the European Union also includes all analyses and consultancy works that will improve investment climate in Bulgaria.

Strategy aims at stimulating structural reforms and will provide for investment resources for productivity and employment increase. World Bank is going to assist in public resources management and reduction of social disproportions in Bulgaria, the strategy says.

The World Banks regional director for Bulgaria, Anand Seth declared the country has achieved good results but needs to exert efforts to catch up with EU member countries.

Financial experts said the last partnership agreemnt between Bulgaria and World Bank (2003 - 2005) was successful. The new plan stressed on aining more political support or ecenomic reforms and encouragement of economic growth with creadit line of € 357 million ($450).

The new 2007 - 2009 strategy will be presented in Bulgaria by Shigeu Katsu, World Bank's vice–president who will visit bulgaria on June 26th.

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