World Bank

Tony Blair’s Albania Mission Fails to Take off

“We remain in contact [with the Albanian government] and Mr Blair would of course still be happy to help, as both Albania and the region mean a huge amount to him, but there is no contract,” Cirian Ward a spokesperson for Blair told Balkan Insight.

“Any help would be done at no cost to the Albanian government,” Ward added.

World Bank: Capital outflow from Russia could reach 150bn

World Bank: Capital outflow from Russia could reach 150bn

MOSCOW -- If the crisis over Ukraine escalates capital outflow from Russia could reach USD 150 billion in 2014, the World Bank predicted under its "high-risk scenario."

This figure would be USD 85 billion under the low-risk scenario, the organization said in a new report.

Power Distributor Energo-Pro Also Takes Bulgaria to Court

Energo-Pro has become the second power distributor to sue Bulgaria at the World Bank's arbitrary court.

The Czech company has announced that it has lodged a claim with the International Center of Settlement of Investment Disputes, which could be launched in case of failed arbitration, Energo-Pro's sources have informed Bulgarian newspaper Trud.

Bulgarian Photovoltaic Association Proposes Energy Board

The Bulgarian Photovoltaic Association (BPVA) has proposed the establishment of an energy board for the financial stabilization and restructuring of the energy sector.

Meglena Rusenova, BPVA Chair, explained Monday that the proposal had been triggered by the processes taking place in the energy sector over the past few days.