WB, Azerbaijani government to upgrade labor market

Business Materials 20 April 2009 17:48 (UTC +04:00)

Azerbaijan, Baku, April 20 / Trend , U.Ismayilova/

On April 22, Azerbaijan will launch a joint project with the World Bank (WB) and the country's government on "Development of Social Protection in Azerbaijan", Labor and Social Protection Ministry International Cooperation Department Head Elnur Sultanov said on April 20.

"The project is launched as part of the visit of the bank's mission to Baku which will last by April 27," Sultanov said.

Sultanov said at present the sides are discussing administrative issues and action plan for the next year which envisages upgrading the labor market, forming regional education centers, establishing professional centers for youth, and issues of career promotion.

"First, these items of the project will be implemented due to high topicality," Sultanov said.

The World Bank and the Azerbaijani government signed an agreement on the project of the "Development of Social Protection in Azerbaijan" worth $54.6 million in November 2008. The WB will allocate $26.7mln to finance the project under conditions of the International Development Association (for 35year with ten-year grace period and on 0.75% of interest rates).

The project comprises four components, including full modernization of system of labor market, as well as improvement of labor legislation, protection system of labor and activity of employment service; formation of policy of social ensuring system; modernization of pension system and management with project.  

The project envisages full institutional development and modernization of professional training system and development of professional classifiers on the base of the European experience, as well as establishment of professional training centre at the Ministry.

The project on Development of Social Protection in Azerbaijan covers five years with realization period from 2008 to 2013.

The WB has financed one project in the social field of the country. The project on Pension Reforms and Social Ensuring has being realized in Azerbaijan since 2005 and the bank has allocated $10mln to the project.

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