Azerbaijani Labor Ministry, Academy of Sciences to sign memorandum
Azerbaijan, Baku, July 26 / Trend, H. Veliyev /
A memorandum of understanding will be signed this week by the Azerbaijani Labor and Social Protection Ministry's Institute for Research and Employment Department, and the Azerbaijani National Academy of Sciences' (ANAS) Institute of Economy.
The memorandum will envisage preparing methodology to study and correctly assess the labor market, Employment Department head Anar Badalbeyli told Trend.
"One aspect of the World Bank's ongoing Social Protection Development Project in Azerbaijan is to analyze the labor market," he said.
The Azerbaijani government and the WB signed a project agreement worth $54.6 million in November 2008. The WB will allocate a $26.7-million loan under the International Development Association for 35 years with a grace period of 10 years and a 0.75 percent annual interest rate to finance the five-year project.
The project aims to improve the labor market and social protection by strengthening local institutions, enhancing institutional and human resource capacity, and improving social safety net programs.
The WB has already financed one project in the Azerbaijani social sector. The Pension Reforms and Welfare Project has being implemented since 2005.
Do you have any feedback? Contact our journalist at: [email protected]