The World Bank's Vice President for Europe and Central Asia Cyril Muller and Bulgaria's Deputy Prime Minister for EU Funds and Economic Policies Tomislav Donchev signed a Memorandum of Understanding (MoU) on partnership and support in the implementation of the European Structural and Investment Funds in Bulgaria for 2014-2020 period.
This agreement marks an important milestone in the World Bank's longstanding relationship with Bulgaria as it provides the framework for improved implementation of the EU programs along with providing international experience and successful examples from other countries. As the Government of Bulgaria is determined to leverage the impact of the EU funds through better management, it has asked the World Bank to assist in this effort by providing advice on strengthening the government's capacity in policy and strategy formulation, as well as delivering analysis, diagnosis, sector and project planning, design and implementation advice.
Cyril Muller's visit to Bulgaria is his first visit to the country since he became the World Bank's Vice President for Europe and Central Asia on July 1, 2015.
This is the second MoU that Bulgaria signs with the World Bank on EU Funds. The first agreement was signed in January 2012 and within its framework the Word Bank has signed six agreements for reimbursable advisory services (RAS) in the areas of innovation, water, roads, agriculture and health.