The World Bank’s Board of Executive Directors today approved the following project:
IBRD Loan: US$200 million
TERMS: Variable-Spread Loan; Maturity = 19 years; Grace = 7 years
Project Description: The Development Policy Loan for Third Social Sector Institutional Reform in Bulgaria will support the Government of Bulgaria in meeting some of the challenges associated with the convergence in living standards with the rest of the European Union. The Development Policy Loan series supports the adoption and implementation of policies to increase employment and lays the foundation for long-term growth by providing incentives for job creation. The loan also aims to improve the quality of education for the citizens of Bulgaria, and promotes fiscal sustainability through efficiency gains in the social sectors.
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