Ministry of Finance of the Republic of Bulgaria
News :: 2012-06-18
The International Bank for Reconstruction and Development does not currently finance any banking institutions in the Republic of Bulgaria through loans or grants. No contracting of government financing for similar operations is envisaged either.
This is the position of the Ministry of Finance on the information published by some Bulgarian mass media about a statement of Mr. Robert Zoellick, President of the World Bank Group, saying that the financial institution "has been increasing its lending to support Bulgaria's banking system and acting to prevent a credit crunch in Southeast Europe".
The current IBRD-funded projects amount to around EUR 251 million. They fund investment in the area of: road structure rehabilitation, trade and transport facilitation, municipal infrastructure development in the water sector and social inclusion.
There is improved project implementation and accelerated absorption of funds under the relevant operations by the implementing ministries and institutions, i.e. MoRDPW, MoLSP, MoF and the Road Infrastructure Agency.