World Bank to Provide Consulting Services for Implementation of Integrated Regional Investments in Bulgaria

Jerusalem, 11 January, 2024 (TPS) -- The World Bank will provide consulting services to the Ministry of Regional Development and Public Works by sharing global best practices and ideas for integrated regional investments, the Ministry said here on Thursday.

An agreement to this effect was signed Wednesday by the Minister of Regional Development and Public Works Andrey Tsekov and Lasse Melgaard, the World Bank’s Resident Representative for Bulgaria, Czechia, and Slovakia.

Over the next 30 months, a team of World Bank experts will work with various stakeholders at regional and central level to raise awareness of the implementation of integrated regional investments. It is envisaged that the Bank will deliver a capacity building program to implement these investments to improve the quality of existing strategies, plans and projects. Experts will share experiences and examples of best practices and partnership building with their Bulgarian counterparts.

“We are creating an innovative approach to regional development. Not for individual regions and municipalities to look for expertise in Sofia, for example, or in international financial institutions, but now the expertise will be on site – to the people and their investment needs,” Minister Tsekov said during the signing ceremony. In his words, this will be extremely useful for the people, especially in a year when a large volume of investments is expected. “The most important thing is the presence in the regions,” the Minister said.

“Integrated development in Bulgaria requires investment and comprehensive partnerships that incorporate ideas and expertise from a wide range of stakeholders, including the communities that have the most to gain,” said Melgaard. As a leading development institution, it is a privilege for the World Bank to provide Bulgaria with global knowledge and expertise to support lagging regions and benefit all Bulgarians,” added the Bank’s Resident Representative.

This is the third commitment under the new framework agreement for reimbursable consulting Services signed with the Bulgarian Government in 2022 and designed to provide support for the EU programming period 2021-2027.