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Bulgaria - The Rehabilitation Loan Project, the Critical Imports Rehabilitation Loan (CIRL) Project, and the First and Second Financial and Enterprise Sector Adjustment Loan Projects (FESAL I and FESAL II) (Inglês)

This PPAR rates the outcome of the Rehabilitation Loan as unsatisfactory, but rates the outome of the CIRL and FESAL I as satisfactory. The outome of FESAL II is rated as moderately satisfactory. The report rates sustainability of the Rehabilitation Loan as highly unlikely, while project sustainability of the CIRL, FESAL I, and FESAL II is assessed as likely. Institutional Development Impact of the Rehabilitation Loan is rated as negligible, of CIRL, modest, of FESAL I, substantial, and of FESAL II, as modest. Five OED lessons were confirmed by the experience of these projects. First, the difference that ownership and commitment to the program makes is dramatically demonstrated by the contrast between the unsuccessful Rehabilitation Loan, which was pursued absent any realistic indication of government commitment, and the CIRL and FESAL I and II which were pursued in support of a fully credible government reform program. Second, the Bank needs to pursue complementary reforms in a realistic and timely fashion. The absence of agreed programs covering a range of aspects such as governance and judicial reforms has circumscribed the achievements of the FESALs and limited the benefits they provided to the economy. Third, the Bank should pay close attention to the form of privatization and any constraints which may be imposed on privatized enterprises. Fourth, the Bank needs to pay attention to management continuity. Finally, partnerships can play valuable roles.

Detalhes

  • Data do documento

    2001/10/30

  • TIpo de documento

    Relatório sobre Avaliação do Desempenho do Projeto

  • No. do relatório

    23078

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Bulgária,

  • Região

    Europa e Ásia Central,

  • Data de divulgação

    2017/11/20

  • Disclosure Status

    Disclosed

  • Nome do documento

    Bulgaria - The Rehabilitation Loan Project, the Critical Imports Rehabilitation Loan (CIRL) Project, and the First and Second Financial and Enterprise Sector Adjustment Loan Projects (FESAL I and FESAL II)

  • Palavras-chave

    Financial and Enterprise Sector Adjustment;Energy and Energy Efficiency Act;Privatization;economic and sector work;quality at entry;banking sector;Privatization of Public Sector;Legal and Judicial Reform;small and medium enterprise;social safety net provision;banking sector reform;long-term asset;Energy Sector;readiness for implementation;bankruptcy and liquidation;public sector bank;long term asset;Country Assistance Strategies;country assistance strategy;privatization process;transmission and distribution;competitive energy market;preparation for privatization;Foreign Exchange Reserve;mass privatization program;foreign exchange crisis;structural adjustment program;

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