World Bank OKs New USD 200 M Loan for Bulgaria

Business » FINANCE | May 17, 2009, Sunday // 12:06
Bulgaria: World Bank OKs New USD 200 M Loan for Bulgaria The loan is the third and last of a series of Social Sector Institutional Reform Development Policy Loans (SIR DPL) for the Republic of Bulgaria. File photo

The World Bank's Board of Executive Directors has approved a USD 200 M loan to Bulgaria to support the country's reforms in the social sectors to modernize the education system, improve the financing of health services and create more and better jobs.

The loan is the third and last of a series of Social Sector Institutional Reform Development Policy Loans (SIR DPL) for the Republic of Bulgaria.

The support to Bulgaria through the SIR DPL series is part of the framework of the Country Partnership Strategy (CPS) that went to the Board in June 2006 and has included substantial World Bank technical assistance in education, health and social protection policy.

"The measures adopted by the Government and supported by the SIR DPL series are expected to contribute to laying the ground for enhanced productivity through increased skills of the labor force, a better investment climate, and more efficient health, education, and social assistance systems," said Orsalia Kalantzopoulos, World Bank Director for Central European and Baltic Countries.

 

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