Azerbaijani State Fund of Social Protection of Population prepares to implement second joint project with WB
Azerbaijan, Baku, March 6 / Trend U. Ismayilova /
The Azerbaijani State Fund of Social Protection of Population prepares to implement the second joint project on pension reforms with the World Bank (WB), Salim Muslimov, chairman of the State Fund of Social Protection of Population, said at a press-conference in the headquarter of Eni Azerbaijan party on March 6.
"Presently, the Fund holds talks with the bank to launch the project," Muslimov said.
Total sum of the project totals 13.92 million manat. Roughly 51 percent or 7.10 million manat will be allocated from the Fund's means, about 49 percent or 6.82 million manat owing to the WB, he said.
The joint project envisages implementation of clauses of the State Insurance Pension System Development Program of Azerbaijan over 2009-2015 adopted in January. The main purpose of the state program adoption is to ensure further improvement of pension maintenance, achieve stabile and dynamic development of pension-insurance system.
The cost of the first joint project of the WB with the Social Fund and the Azerbaijani Ministry of Labor totaled $11 million. Roughly 5.39 million fell on unused part. The project's goal is to improve effectiveness and clarity of pension maintenance and social aid to the citizens.
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