15.09.2015

The International Bank for Reconstruction and Development (IBRD) will provide advisory services to the Ministry of Finance in the process of setting up of a Fund-of-Funds for Managing Financial Instruments under EU Operational Programmes 2014-2020. The agreement which governs the provision of technical assistance by IBRD to the MF has been signed in the form of exchange of documents. It was prepared on the grounds of the Memorandum of Understanding, signed on 22 January 2012, between the Government of the Republic of Bulgaria and the World Bank on partnership and support in the implementation of the EU Structural Instruments, and its ratification by the National Assembly is forthcoming.

Our country needs the expertise of the International Bank for Reconstruction and Development and plans to use it on both the stage of setting up a Fund-of-Funds and organizing the activity of the Manager of Fund-of-Funds, and throughout the implementation of the financial instruments in our country. The provision of the technical assistance will support the development of a national capacity and the attainment of continuity in regard to the financial instruments which are becoming increasingly important in the European Union.