Article originally published on the World Bank website.

The Bulgarian Government and the Bulgarian Energy Holding (BEH) have asked the World Bank to provide a sound analytical basis and options that the Ministry of Energy and BEH could consider in defining a strategy for financial recovery and the liberalization of the power market.

The advisory support will be implemented in two phases. In the first phase, which starts now in collaboration with the Bulgarian Energy Holding, the Bank will undertake an objective assessment of the sector’s financial position to propose options for the implementation of the liberalization of the power market. The second phase of the project in collaboration with the Ministry of Energy is expected to be initiated shortly after and will focus on preparing a detailed roadmap for the liberalization of the market and exploring means to make power services more affordable to vulnerable population.

“It is an honor and responsibility for us helping the Government to carefully plan and strategically position Bulgaria’s economy back on the growth track. The financial sustainability of the energy sector and the liberalization of the market are key in pursuing a long term growth and shared prosperity for Bulgaria,” said World Bank Country Manager for Bulgaria Tony Thompson.

For more information about the World Bank’s work in Bulgaria, visit: http://www.worldbank.bg

For more information on the World Bank’s work in Emerging Europe and Central Asia, please visit: www.worldbank.org/eca