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Bulgaria Govt Raises Living Standards with World Bank Loans
Politics | January 29, 2009, Thursday // 00:00
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Bulgaria's Council of Ministers approved on Thursday two loans from the World Bank for a total of EUR 141,7 M, which will be used to consolidate the country's EU integration, and to raise its living standards.
The loans are granted under the World Bank's Strategy for Partnership with Bulgaria from June 2006.
The larger of the two loans is for EUR 101,7 M that will be used to boost reforms in health care, education, and social affairs. These reforms will aim to create new jobs, to improve the quality of training and education, and to improve labor productivity.
The World Bank is also going to provide the Bulgarian government with consultations for increasing labor mobility, and refining the regulations for starting business.
The second World Bank loan for EUR 40 M will be utilized to advance the pre-school education of children under 7 years of age from marginalized and low-income families, or with disabilities.
The loans are granted under the World Bank's Strategy for Partnership with Bulgaria from June 2006.
The larger of the two loans is for EUR 101,7 M that will be used to boost reforms in health care, education, and social affairs. These reforms will aim to create new jobs, to improve the quality of training and education, and to improve labor productivity.
The World Bank is also going to provide the Bulgarian government with consultations for increasing labor mobility, and refining the regulations for starting business.
The second World Bank loan for EUR 40 M will be utilized to advance the pre-school education of children under 7 years of age from marginalized and low-income families, or with disabilities.
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