The World Bank is supporting Bulgaria’s upcoming EU membership and has offered to assist the country in its integration efforts, according to World Bank vice president for Europe and Central Asia Katsu Shigeo.

Shigeo met Prime Minister Sergei Stanishev this week to discuss Bulgaria’s EU entry. On 13 June, the World Bank’s board of executive directors approved a new Country Partnership Strategy for Bulgaria. The strategy said Bulgaria’s first years as EU member would be important for increasing economic competitiveness and business developments.

The World Bank has promised to be both a source of funding for Bulgarian projects and a reliable partner. Shigeo said that the bank believed Bulgaria would be able to deal with the changes it would experience after joining the EU.