Acting Minister of Energy, Rossen Hristov, and the representative of the World Bank for Bulgaria, the Czech Republic and Slovenia, Lasse Melgaard, signed an agreement on Thursday according to which, in the next 24 months, the international financial institution will provide expert technical opinions based on best global ideas and practices for managing Bulgaria’s geothermal energy resources, according to BTA.

The project is financed under the National Recovery and Resilience Plan, and is part of its implementation.

Hristov commented, quoted by the press center of his ministry, that the agreement shows the existence of a clear and correct vision on the development of the sector, with an emphasis on zero-emission technologies and on the full use of Bulgaria’s natural resources. The use of geothermal energy will provide new jobs and guarantee a smooth transition to green energy.

“In just eight months, we have proven that our country can be a desired and reliable partner in the energy sector and we have improved cooperation with institutions such as the World Bank and the European Bank for Reconstruction and Development,” said the acting Minister of Energy, according to Agerpres.

Melgaard said the World Bank is pleased to continue partnering with Bulgaria for the sustainable use of natural resources, as well as supporting the country’s efforts to secure clean energy resources for the benefit of its citizens.

At the meeting, Hristov and Melgaard also discussed opportunities for cooperation in other areas of the energy sector, including the creation of a global energy strategy for Bulgaria based on the vision already created, as well as supporting the economic development of coal-bearing regions with an emphasis on green technologies and production.

The World Bank team will provide analysis, technical expertise and recommendations for the establishment and operation of geothermal laboratories and geothermal centers for leading-edge achievements, including in several universities in Bulgaria. As part of the partnership, the World Bank will support the Ministry of Energy in identifying areas with good prospects for the use of geothermal energy, including for heating, cooling and potential electricity production. As part of the overall assessment of Bulgaria’s existing geothermal resources, the World Bank will promote appropriate practices for social and environmental impact assessments.