Programmatic Adjustment Loan (PAL)

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The Programmatic Adjustment Loan Project for Bulgaria is the first of three programmatic adjustment loans envisaged to Bulgaria, it supports the new government which came into power in mid-2001 two main development objectives: a) sustaining economic growth and b) reducing poverty, both key to complete Bulgaria's transformation to a market economy, and move closer towards European Union (EU) membership. The reform program of the current government builds on the gains of the past five years and makes a strategic shift in emphasis towards promoting growth and reducing poverty focusing on increasing investment and productivity, and building human capital. To implement economic growth and poverty reduction strategy the government is building its medium term reform program on: 1) sustaining structural reforms in the enterprise sector with emphasis on restructuring the energy, railway, telecommunications and water sectors; 2) establishing a market business environment; 3) deepening the financial sector, addressing the constraints to increase lending by the banking system and the development of financial markets; 4) improving public sector governance, by implementing an anti-corruption strategy, strengthening local governments, and reforming public administration and the judiciary; and 5) investing in human capital and strengthening social programs, focusing on health, education, pension reform and social assistance effectiveness.

FY17 - Energy and Extractives,FY17 - Financial Sector,FY17 - Industry, Trade and Services,FY17 - Public Administration,FY17 - Transportation

World Bank Group

Project

Mass Transit, Water Supply and Storage, Rail, Power Generation (CCGT), Commercial, Government, Education