Zoellick: World Bank to Boost Bulgaria's Energy Security

World Bank president Robert Zoellick (L) and Bulgarian economy minister Traicho Traikov (second L) inspecting ancient coins in the Varna Museum of Archaelogy. Photo by BGNES.

The President of the World Bank Robert Zoellick, who is on an official visit to Bulgaria, met Tuesday with Bulgarian Minister of Economy and Energy Traicho Traikov to discuss the economic potential of Bulgaria.

Minister Traikov announced the start of an analysis of the Bulgarian gas sector and the security of gas deliveries, to be conducted by Bulgarian and American experts funded by a World Bank grant.

The two high officials also discussed the quality of the electricity distribution network in Bulgaria.

They moreover discussed the potential for active industrial policy of governments in the time of economic and financial crisis.

A strong point of the talks between Traikov and Zoellick was Bulgaria's continuing efforts in reducing administrative burden, which are also actively supported by the World Bank. Bulgaria has adopted a concrete plan to reduce administrative burden by 20% in two years, a fact at which Zoellick expressed satisfaction.

Zoellick's visit to Bulgaria's Varna continued with visiting the local historical and archaeological museums that host rich collections from Antiquity and the Middle Ages.

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