A presentation of the Public Investments and Efficiency was held in Baku Friday.Implemented by the US Agency for International Development (USAID) and the Ministry of Economic Development the project has four major directions:
вЂ" definition of investment policy, strategy, national and sectoral goals for formation of major expenses, as well as middle-term macro- and sectoral planning in compliance with the priorities of strategic development and relevant programs;
вЂ" Improvement of the process of formation of major expenses of the public sector under the Scheme of middle-term expenses and transfer of the connecting links among the public budget, its priority development and programs;
вЂ" Strengthening of the necessity of institutional and technical; potential of all budget organizations and state companies for efficient management in the period of state investments project (including the definition of the project, appraisal, development, revealing of priorities, use and monitoring of results);
вЂ" Use of program developed and presented by the leading U.S. and Azerbaijani companies for the implementation of the above said elements.
The term of the project with the budget of $4m is 2.5 years and it is to end by late 2007. Under the project the pilot administration were defined. They were the Transport Ministry, the Ministry of Industry and Energy, the Ministry of Education, the Ministry of Ecology and Natural Resources, the Ministry of Youth, Sports and Tourism. In 2006-2007 the Ministries of Agriculture, Health, Communications and Information Technologies, Labor and Social Security, the Department for Privatization and Development, small and medium enterprises.