Bulgaria Signs Cooperation Agreements with World Bank, EIB

Bulgaria signed Sunday memoranda for cooperation with the World Bank and the European Investment Bank on consultancy for major infrastructure projects.

Present at the signing were Bulgarian PM Boyko Borisov, EU Funds Minister Tomislav Donchev, as well as World Bank Vice-President for Eastern Europe Philippe Le Houerou, EIB President Wilhelm Molterer, and EU Regional Policy Commissioner Johannes Hahn.

Just before signing the memoranda, Commissioner Hahn met new Bulgarian President Rosen Plevneliev and praised the marco-economic indicators achieved by the cabinet of Bulgarian PM Boyko Borisov.

"The memoranda of understanding with the World Bank and EIB will help Bulgaria in the absorption of European funds for the creation of large infrastructure projects," said Commissioner Hahn.

Bulgarian PM Borisov said that he discussed with Hahn his government's ideas about the highways and railways that his government plans to construct or repair.

Present at the signing was also European Bank for Reconstruction and Development President Jan Fischer. Bulgaria will sign a similar memorandum with ERDB Monday.

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