In late summer, the World Bank Group opened its new Shared Services office in Sofia, Bulgaria to provide corporate and technology support to the group’s business operations around the globe.
Sofia was chosen following a competitive search for a location, based on a broad number of criteria including cost effectiveness, the quality of the information technology (IT) infrastructure, and the local talent pool, according to a statement from the World Bank.
The World Bank Group expects the site to employ up to 300 people in the medium-term.
“Our new shared services operation in Sofia will efficiently and effectively support the World Bank Group in delivering on its mission of ending poverty,” said World Bank Group Managing Director and Chief Administrative Officer, Shaolin Yang. “I am very happy with the establishment of the shared services centre in Sofia. It further strengthens Bulgaria’s strong partnership with the World Bank and acknowledges the many advantages Bulgaria has to offer,” said Koen Davidse, the World Bank Group Executive Director for Bulgaria.
The new office complements an existing World Bank Group shared services centre in Chennai, India which opened in 2001 and currently serves the organization with accounting, human resources, IT and other services.
In addition to providing IT and corporate services, the Sofia centre will allow the institution to better serve its locations across different time zones and continue improving the diversity of its workforce, the statement said.