The World Bank will provide advisory support for the implementation of integrated regional investments in the country

The World Bank will provide advisory support to the Ministry of Regional Development and Public Works by sharing global best practices and ideas for integrated regional investments.

An agreement to this effect was signed today by the Minister of Regional Development and Public Works Andrey Tsekov and Les Melgaard - World Bank Resident Representative for Bulgaria, Czech Republic and Slovakia.

Over the next 30 months, a team of World Bank experts will work with various stakeholders at regional and central level to raise knowledge and awareness on the implementation of integrated regional investments. It is envisaged that the Bank will deliver a capacity building program to implement these investments to improve the quality of existing strategies, plans and projects. Experts will share experiences and examples of best practices and partnership building with their Bulgarian counterparts.

“We are creating an innovative approach to regional development. Not individual regions and municipalities to look for expertise in Sofia, for example, or in international financial institutions, but now the expertise goes on the ground - to the people, to their investment needs,” Minister of Regional Development and Public Works Andrei Tsekov said during the signing ceremony. In his words, this will be extremely useful for the people, especially in a year when a large volume of investments is expected. “The most important thing is the presence in the regions,” the minister stressed.

“Integrated development in Bulgaria requires investment and comprehensive partnerships that incorporate ideas and expertise from a wide range of stakeholders, including the communities that have the most to gain,” said Les Melgard, World Bank Resident Representative for Bulgaria, the Czech Republic and Slovakia. “As a leading development institution, it is a privilege for the World Bank to provide Bulgaria with global knowledge and expertise to support lagging regions and benefit all Bulgarians,” added the Bank's Resident Representative.

This is the third commitment under the new Framework Agreement for Reimbursable Consultancy Services signed with the Bulgarian government in 2022 and designed to provide support for the EU programming period 2021-2027.

Since joining the European Union in 2007, our country has benefited from EU grants and funding to address regional inequalities. To address these development challenges, Bulgaria has adopted a new approach to regional development financing that applies integrated territorial investments addressing the root causes of specific growth bottlenecks in each region. These integrated investments allow packages of projects, based on regional needs, to be financed by different European Structural and Investment Funds programmes.