Andru Vorkink

SOFIA, Feb 27, 2002 (Xinhua via COMTEX) -- The World Bank will grant a Project Adjustment Loan of between 400 and 500 million U.S. dollars to Bulgaria's structural reform over the next three years, the bank's director for Bulgaria, Romania and Croatia, Andru Vorkink said on Wednesday.

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At the joint press conference with Vorkink, Vassilev said the government will try to improve the investment climate in Bulgaria, develop the labor market, reduce unemployment, speed up the reform of the social security system, and plan the privatization of the national bank DSK.
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At the press conference, Vorkink also briefed the World Bank's evaluation of Bulgaria's three-year reform from 2002 to 2004, saying the country's poverty has been greatly reduced and reform has entered the second stage.

So far, the World Bank plans to grant Bulgaria loans totaling 1. 543 billion dollars in 27 projects, and nine of the projects supported by 315-million-dollar loans have been completed.

Copyright 2002 XINHUA NEWS AGENCY.