The Bulgarian Finance Minister Milen Velchev had a meeting with Pieter Stek, Executive Director of the World Bank's Netherlands Constituency Group on November 5. Pieter Stek is visiting Bulgaria as part of his tour of countries of the Netherlands Constituency, such as Moldova and the Netherlands. The aim of the visit to Bulgaria is to meet the economic team of the new Bulgarian government and to get acquainted with its economic priorities. Stek is visiting Bulgaria at the invitation of Finance Minister Velchev in his capacity as governor for Bulgaria, which is a shareholder in the World Bank Group. Stek is confident that Bulgaria will sign an agreement with the International Monetary Fund, it emerged after the meeting. The Government's program is good and feasible, according to him. “The meeting focused on projects included in the World Bank's three-year strategy for Bulgaria, which envisages structural and investment loans, “Velchev said. “The loans planned in the World Bank's three-year strategy total USD 750 M, 60 % of which –USD 450 M - will be issued in structural adjustment loans, and the rest in investment loans,” Velchev explained. In 2002, Bulgaria expects to get USD 250 M, out of which USD 150 M are designed for structural reforms, and USD 100 M for investment, including the setting up of a special investment fund, an institutional support loan, and a loan, with which a cadastre will be instituted. Stek will also have meetings with Prime Minister Saxe-Coburg and Deputy Prime Minister and Economy Minister Nikolay Vassilev.The officials will discuss aspects of structural and institutional reforms and the fight against corruption.

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