Bulgarian Government proposes to ratify water sector Advisory Services Agreement with the World Bank

Bulgarian Government proposed to the Parliament on 9 March to ratify the Advisory Services Agreement with the World Bank in the water and sewerage sector.

The BGN 3 M (EUR 1.5 M) agreement was signed last month. It aims to create conditions, mechanisms and capacity to increase the efficiency of operation of the water sector in Bulgaria.

The agreement calls for the drafting of a funding strategy for the sector as well financial mechanisms that will reduce the impact on prices from revised regulatory framework in the sector and will allow water companies to retain part of their sales revenue for future reinvestment.