World Bank to Support Bulgaria in its Efforts to Implement European Green Deal

The World Bank will provide advisory support to Bulgaria in its overall efforts to prepare for a managed decarbonization process, as part of the European Union’s Green Deal. A contract for the provision of Reimbursable Advisory Services to support territorial decarbonization was signed today by Temenuzhka Petkova, Minister of Energy for Bulgaria, and Fabrizio Zarcone, World Bank Country Manager for Bulgaria, the Czech Republic, and Slovakia.

Under the contract, the World Bank will support the Bulgarian government by providing inputs into the preparation and evaluation of plans for eight carbon-intensive districts: Haskovo, Sliven, Yambol, Varna, Burgas, Lovech, Gabrovo and Targoviste. World Bank experts are expected to evaluate the proposed governance mechanism and provide an assessment of the economic, social, and territorial impact of the transition of these districts to a climate-neutral economy.

“We are privileged to be able to support the Government of Bulgaria to make the most of the European Green Deal. We believe that the World Bank’s global knowledge and ability to bring the best international policy ideas will benefit all Bulgarians,” said Fabrizio Zarcone, World Bank Country Manager for Bulgaria, the Czech Republic, and Slovakia.

The agreement signed today needs parliamentary ratification to take effect. The analytical work undertaken by the World Bank will be the property of the Bulgarian government.