Labor Ministry of Azerbaijan to Realize Social Project with World Bank

Business Materials 26 August 2008 17:28 (UTC +04:00)

Azerbaijan, Baku, 26 August/ Trend , corr U. Ismayilova/ The Azerbaijani government and World Bank are expected to sign agreement at the end of September, said Elnur Sultanov, head of the International Cooperation Department of Ministry of Labor and Social Protection of Azerbaijan.

"At present we are expecting our authority to be approved to sign agreement from Azerbaijani side," Sultanov said.

The Azerbaijani government-World Bank joint Development of Social Protection program was approved by the Board of Directors of WB in June. The project is expected to be realized in autumn.

The cost of the projects is estimated at $40mln, $25mln of which will be paid by WB. The project will cover 5 years. The project includes 4 key components: first - full modernization of employment system and improving work of employment services; second - forming policy of social protection system; third- modernization of pension system and fourth - management of the project.

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