РђZERBAIJAN AND ASIAN BANK OF DEVELOPMENT SIGNED GRANT AGREEMENT

The Ministry of Economic Development (MED) on behalf of the government of Azerbaijan and the Asian Bank of Development (ABD) signed a grant agreement.

The agreement regulates the issues of funding Azerbaijan in the amount of $850,000 for implementation of the state program preparation on poverty reduction and further human development for 2006-2015, Trend reports.

The documents were signed by the Minister of Economic Development, Farhad Aliyev and the head of the Baku ABD office Matthew Westfall.

As Aliyev noted, the total project’s cost is $1,070,000, from which $850,000 are granted by ABD, $220,0000 is the government’s share. Aliyev noted, from the moment of the poverty reduction and the economic development program 2002-2005 implementation, the poverty level has reduced from 49% of the population to 40% in 2005.

Matthew Westfall said, it is crucially important for ADB to facilitate implementation of projects related to the poverty reduction and increase of the life standard level.

It should be noted, the grant mentioned is one of the components for realization of the Joint Declaration on preparation of the lasting strategy on poverty reduction and permanent development up to 2015 targeted at the achievement of the Millenium Development Goal.

The Declaration was signed on 12 May between the government of Azerbaijan and resident missions of ABD, EBRD IMF, the UNO Development Program and the World Bank. Under the Declaration the above-mentioned international structures find it expedient to continue joint projects in the framework of “The State Program of Economic Development and Poverty Reduction”.

The document notes, the Azerbaijan’s government set the goal to develop the strategy for lasting development covering the period of 2006-2015. The strategy determines the government’s political priorities on poverty reduction by 2015 and achieving the Millenium Development Goals.

Political priorities will be defined by means of discussions among the broadest layers of the society and coordinated with the revenue forecast and budget expenditures.

Along with this, the international financial institutions (IFI) will perform the relevant monitoring, particularly, ABD will start assessment of the state program implementation results, will render technical support in budgeting and cost estimates, and will carry out relevant monitoring; EBRD will actively support the small and the medium-size entrepreneurship in Azerbaijan, measures on management strengthening; IMF will render technical support, assist in budgeting of the events to be held and will coordinate their implementation process, UNDP will render organizational technical support in poverty monitoring at the regional and the country level, World Bank in its next Country Facilitation Strategy will provide priorities of the new humanitarian strategy. Discussions between IFI and the Azerbaijan’s government commenced in the current May, development of strategy and cost estimates will be completed by December.

Russia says OPEC+ meeting to be held on Saturday
Russia says OPEC+ meeting to be held on Saturday
Oil edges higher as traders eye producer talks on extending supply cuts
Oil edges higher as traders eye producer talks on extending supply cuts
Oman to establish investment body to manage sovereign wealth funds
Oman to establish investment body to manage sovereign wealth funds
Loading Bars
Latest
Chinese mainland reports no new domestically transmitted COVID-19 cases
Chile reports 122,499 COVID-19 cases with 1,448 deaths
Head of Al-Qaida in Islamic Maghreb killed in Mali by French forces: minister
Street near White House renamed ‘Black Lives Matter Plaza’ — mayor
58 more coronavirus patients die in Moscow in past day — crisis center
Some 41,500 National Guard officers on duty in US amid protests
WHO recommends wider use of face masks to curb COVID-19
Facebook says it found no foreign interference targeting U.S. protests
Trudeau takes a knee at anti-racism protest on Parliament Hill
Trump orders 9,500 US troops to leave Germany
Finland's finance minister steps down over training payments
5.2-magnitude quake jolts eastern Turkey
EU countries agree on coordinated, non-discriminatory lifting of travel ban
Turkey: Daily coronavirus recoveries up with over 1,600
UK COVID-19 deaths top 40,000 as another 357 patients die
ADB eyeing agreement signing on road reconstruction in Kazakhstan
Azerbaijan discloses number of coronavirus tests
Italy's COVID-19 death toll up 85 to 33,774
Tourists from Israel may be among first visitors to Georgia
Agent bank of two more liquidated banks chosen in Azerbaijan
Azerbaijan plans to increase Virginia tobacco production
Central Bank of Iran seeks to unfreeze foreign currency sources abroad
Azerbaijan Wine Producers & Exporters Association eyes new markets for export
Kazakhstan's Shymkent to oversee implementation of various agro-industrial projects
Azerbaijan’s Technol plant talks about production plans
Georgia begins construction of Namakhvani HPP cascade
Azerbaijan’s Elektrogas company testing latest models of heating equipment
Industrial parks to appear in Kazakhstan's Almaty
Agrarian Credit & Development Agency talks subsidies issued to Azerbaijani farmers
Turkmenistan develops packers to increase oil field productivity
Construction of Georgian Kutaisi bypass road nearing completion
Embassy: Romania, Georgia enjoy excellent relations
More than half of financial irregularities in Azerbaijan fall on accounting and reporting
Wind power plant construction underway in Kazakhstan's Zhambyl
Azerbaijan extends project on supporting women's entrepreneurship
Polish company installing new systems at Kutaisi int'l airport in Georgia
Azerbaijan eyes exporting textile products to Russia, Arab countries
One more professional participant registered in Azerbaijan's insurance market
Uzbek United Processing Center to improve e-business environment in country
Georgia, Poland discuss resumption of air traffic
Federal Ministry: Germany seeks to further expand its relations with Azerbaijan
Azerbaijani association talks planned volume of hazelnut export
Users of fixed internet doubles in Georgia
Global Environment Facility supports environmental project of Uzbekistan
Azerbaijan detects 338 new COVID-19 cases
WeWork Global to invest $100 million in India business
Azerbaijani Tax Service comments on changes to Tax Code
TAP project’s schedule remains unchanged
Canada gains surprise 289,600 jobs in May, jobless rate hits record
Georgia to open skies to international flights
Turkmenistans Turkmenstandartlary extends tender to buy lab equipment
144 Azerbaijani citizens return from Ankara to Baku via Azerbaijan Airlines' flight (PHOTO)
Turkmenistan's Kaakhkinsky district expands areas for vegetable, fruit crops
Solar plant capacity to be increased in Kazakhstan's Karaganda
Kazakh FlyArystan suspends flights to regional center of West Kazakhstan
Uzbekistan sells state shares in wine cluster of Samarkand region
Georgia discloses amount of funds spent on quarantine space
Uzbekistan may lock co-op with Israeli geotechnical engineering company
Review of microfinance organizations' ratings in Georgia
Azerbaijan’s AccessBank ended 2019 with profit
Germany strengthens cooperation with Uzbekistan
Volume of fuel oil shipment via Turkish ports from Jan. through Apr. 2020 announced
Azerbaijani AccessBank’s liabilities decrease
Uzbekistan to upgrade infrastructure of Fergana region's district
Volume of Turkish mining industry products export declines
Azerbaijan's ministry talks postal services work during quarantine
No progress in latest round of EU-Brexit talks
LVMH backs down on renegotiating Tiffany deal
Azerbaijani MFA: Armenia may face severe consequences of its policy
Azerbaijani Energy Minister to attend OPEC+ Ministerial Meeting
Turnover of electric power surges in Azerbaijan
Azerbaijan's textile factory discloses knitwear production capabilities
Spain to open to foreign tourism from July 1
Cargo shipment volume from Ukraine via Turkish ports announced
Google Chrome's share in Azerbaijan's browser market grows
Nine insurance companies’ claims shrink in Azerbaijan
Turkmenistan, Russia discuss co-op within int'l organizations
Turkmenistan assesses environment, following 'day without cars'
France's import of grain, legumes from Turkey down
Coal railway cargo transportation up in Kazakhstan
Kazakhstan's AIFC to bring more revenue to state budget by project co-funding
Jewelry export from Turkey to foreign markets downgrades
South Korean Sejin G&E to bring gas-based power production to Uzbekistan
Turkmenistan's Health Ministry to buy medicines via tender
Uzbek-Chinese JV opens tender for procurement of mobile lifting machinery
British luxury carmaker Bentley to cut quarter of workforce
Presidents of Georgia, Albania may open direct flights
Canada interested in cooperation with Uzbekistan
WoodMac expects significant increase in 2021 oil demand
Azerbaijani parliament approves bill on 2019 budget fulfillment in first reading
Turkmenistan strives for saving Caspian Sea resources during COVID-19
Kazakhstan's KAZ Minerals ups funding for copper project in Russia
Volume of jet fuel transshipment through Turkish ports announced
Azerbaijan’s Elektrogas LLC talks manufacturing gas-fired water heaters
Azerbaijan creating its first biosphere reserve
Georgia, Germany, France discuss creating safe travel corridors
Iran restoring water level in Lake Urmia
All permits in place for new technology at Azerbaijan’s Kursangi, Garabagli fields
Israel-Georgia Chamber of Business boosting cooperation with Israeli LAHAV
Bombardier to cut 2,500 aviation jobs as COVID-19 hurts sales
All news