Project financing of the water sector in Bulgaria

Abstract

The impact of multiple factors on the management of water projects requires a comprehensive approach to project management. The aim of the paper is to analyze and evaluate the factors that influence the management and financing of water projects and on this basis to offer recommendations for improving the process. The findings, conclusions and recommendations in the paper are based on the results of the UNWE project "Project management of sustainable development in the water sector". Structured interviews were conducted with project beneficiaries in the water sector from 16 municipalities located in 13 districts and 4 planning regions, such as officials from the four basin directorates in the country. Main findings of the environment of financing and project management in the water sector are based on conducted survey and PESTEL tool. The main factors identified in the applied methodology are political, social, environmental, economic, technological and legal factors. The recommendations made in the last part of the paper are related to enhancing horizontal coordination between different sectoral policies, adjustments to application procedures, multidisciplinary team formation, the creation of sustainable eco-innovation, etc.