AZERBAIJAN AND THE WORLD BANK SIGN SOCIAL PROTECTION DEVELOPMENT PROJECT

 

 

 

AZERBAIJANAND THE WORLD BANK SIGN SOCIAL

PROTECTION DEVELOPMENT PROJECT

 

Baku, November 28, 2008 – Today, Government of Azerbaijan and the World Bank signed Financing Agreement for a $26.7 million equivalent credit from the International Development Association (IDA) Social Protection Development Project in Azerbaijan. Agreement was signed by the Minister of Labor and Social Protection of the Republic of Azerbaijan, Mr. Fizuli Alakbarov and World Bank Country Manager for Azerbaiajn, Mr. Gregory Jedrzejczak. The objective of the Project is to improve delivery of labor market and social protection interventions through strengthened institutions and improved targeting of social safety net programs.

 

            The Project consists of the following key parts:

            Labor Market Reform.  The project will help to significantly improve labor market institutions, policies and programs and strengthen capacity for labor market and employment policy formulation and implementation. It will also finance the strengthening of job search and matching services, career counseling, and training programs.

 

            Capacity Building and Social Safety Net Development. The project aims to assist in the modernization of the administration in the Ministry of Labor and Social Protection of the Population (MLSPP), and will support the introduction of monitoring and evaluation systems. It will also assist in the restructuring of the Disability Certification Service and the piloting of integrated provision of the social protection programs.

 

            Pension System Development. The project will assist the Government in assessing the fiscal sustainability of the current pension system and assist in developing a strategy to ensure it is sustainable in the future.

 

Azerbaijan joined the World Bank in 1992. Since then, commitments to the country total over $2 billion for 45 operations.

 

 

Azerbaijan Social Protection Development Project

Presentation by Ms. Aleksandra Posarac, WB Task Team Leader for Social Protection Development Project