Robert Smith: Bulgaria Sets Example to SE Europe Countries

Novinite Insider » INTERVIEW | October 16, 2002, Wednesday // 00:00

Robert Smith is Financial Advisor with the Department for International Development (DFID), the UK Government department working to promote sustainable development and eliminate world poverty. Technical advisor to the FIRST Management Unit.

Mr. Robert Smith met Milena Hristova, Editor of Novinite.com and the News

Q: How does the Department for International Development (DFID) promote its goals in Bulgaria?

A: We work very closely with our Bulgarian counterparts and the government to develop a program of bilateral technical assistance between the UK government and Bulgaria. That program is currently being formulated for the next two years. We expect to have further discussions with our Bulgarian partners into that. Answering your question about poverty, DFID main goal is poverty alleviation. As a government we have very specific targets in helping that. We try to follow the world targets in all of our projects.

Q: This is the first time that the Financial Sector Reform and Strengthening (FIRST) Initiative approaches Bulgaria...

A: Yes, the Financial Sector Reform and Strengthening (FIRST) Initiative is a very new program. The project was announced in the spring meeting of the World Bank. The first six months of activity were more about creating our own framework. There is recognition that, interestingly enough, the countries with the least poverty are the ones with the most developed financial sector. There is a link though it does not seem very direct.

Q: Which are the potential projects that the First Initiative could fund in Bulgaria?

A: Following my presentation I had spoken to several people at the Southeast Europe Economic Forum and it is clear that Bulgaria's financial sector is relatively strong especially given the fact that there was a major crisis in the mid-90s. Coming out of that, sensible reforms have already been made and the benefits are apparent. I would imagine that any projects we might do here will just help to eke what is in fact quite a sensational reform program.

Q: What are Bulgaria's economic and political advantages to other countries in Southeast Europe?

A: In many ways Bulgaria is not characteristic of other countries in the region. It has always been an example to them in terms of what can be done.

Q: A speaker at the forum suggested that what all countries in the region share is the tough legacy they have inherited. Do you share that view?

A: With respect to the communist regime and the consequences of war you all share the same legacy. I think the fact that Bulgaria is being considered as a European Union partner in 2007 should give inspiration to other countries in the region about what can happen to sensible reform.

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