Azerbaijan, Baku, Jan. 7 / Trend U. Ismayilova /
A joint project 'Development of social protection in Azerbaijan' between the Azerbaijani government and the World Bank will be realized in the end of the first quarter, the Ministry of Labor and Social Protection of the Population international cooperation department head Elnur Sultanov said today.
"A consultant will be attracted to launch the project. The agreement is expected to be signed with the international consortium soon," Sultanov said.
The loan agreement on the project 'Development of social protection in Azerbaijan' worth $54.6 million was signed in November 2008. The World Bank has allocated $26.7 million in accordance with terms of the International Development Association (35 years with grace period of 10 years and 0.75 percent per year) to finance the project.
The project includes four components: full modernization of labor market system, including improvement of the labor legislation, labor protection system, work of employment services, formation of policy of social maintenance system, modernization of pension system and project governance.
The project envisages full institutional development and modernization of professional training system, working out professional classifiers on the basis of European practice, creation of professional training centers under the ministry.
The project covers five years.
The World Bank has already financed one project in the social sector. The project "Pension reforms and social maintenance' has been realized since 2005. The bank has allocated $10 million for this project.