Azerbaijan, Baku, Oct. 31 / Trend A. Akhundov /
The Azerbaijani government and the World Bank are developing a framework agreement to start working within the long-term Joint Economic Research Program (JERP), WB Baku office told Trend on Wednesday.
"WB specialists render analytical services on the priority issues of the country's economy within this program," the bank said. "These services are paid by the government. This is a new stage of cooperation. Up to now the funds were obtained from the WB. Only the countries having certain progress in economy pass to this stage of cooperation. Russia, Kazakhstan and some Eastern European countries are among them."
The government told Trend on Wednesday that this mechanism will allow Azerbaijan to obtain financial leverage of influencing on consultants.
The first three-year cycle of the program is planned to hit $5 million, the office said.
"It is planned to hold a joint council, which will determine the research topics," the bank said. "Our teams and if necessary local specialists will be involved. The work will begin. Intra-governmental procedures are underway. The text of the framework agreement with the World Bank is being agreed."