SOFIA, May 8, 2025 -The World Bank signed today two Reimbursable Advisory Services Agreements with the Bulgarian government aimed at boosting education and businesses. The signing ceremony took place at the Council of Ministers of Bulgaria and was attended by Bulgarian Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev and World Bank Vice President for Europe and Central Asia Antonella Bassani.
The first Reimbursable Advisory Services (RAS) Agreement, officially named "Sustainable Development of MSMEs in Bulgaria" was signed by Boyko Takov, executive director of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and is designed to enhance the managerial capabilities and competitiveness of approximately 300 micro, small, and medium-sized enterprises (MSMEs) in Northern Bulgaria. The initiative will focus on conducting needs assessments of small entrepreneurs to evaluate existing managerial skills and identify challenges and growth opportunities.
The second agreement, called "Strengthening the Production and Use of Data for Better Learning Outcomes in Bulgaria" was signed by Krasimir Valchev, Minister of Education and Science, and aims to impact thousands of students and teachers across the country by improving data governance and service delivery in the education sector to help ensure that children are building strong foundational skills, like reading and comprehension, that are critical for future success. The RAS will focus on integrating advanced data systems into existing educational frameworks, providing technical support, and building capacity among educational staff.
"These agreements reflect a shared ambition to support Bulgaria's efforts to unlock opportunities for people and businesses across the country," said Antonella Bassani, World Bank Vice President for Europe and Central Asia. "In both education and businesses, the common thread is capacity - of individuals, institutions, and systems. Our shared goal is to build that capacity in ways that are inclusive, data-driven, and future-focused. We look forward to working together so that Bulgaria's children and its businesses not only keep up with the pace of change but lead the way."
World Bank Reimbursable Advisory Services (RAS) are non-lending advisory programs where the World Bank provides technical advice, analytical services, and implementation support to clients, primarily in middle and high-income countries. The client then reimburses the World Bank for the costs of these services. RAS programs provide valuable assistance with the design, planning, and implementation of complex reforms. They are easily adapted to specific country needs and can take many forms, including policy advice; analytical and diagnostic work; donor aid coordination; impact evaluation; program implementation support; training; knowledge sharing, and peer learning.
