WB loan to boost Azeri workforce
The World Bank has granted an $8 million loan to
support the development of the workforce in Azerbaijan. An
agreement on implementing the project, which will seek to
strengthen employee abilities using state funding, was signed with
the government at the Education Ministry on Thursday.
Minister Misir Mardanov, who signed the agreement with Asad Alam, WB Regional Director for South Caucasus, said during the signing ceremony that the project is valued at $10m, of which $8m will be provided by the International Development Association (IDA) operating under the bank, while the remaining amount is to be funded by the Azerbaijani government.
The main goals of the initiative, to be implemented in 2010-2013, include developing investment projects in the priority sectors of the domestic economy, in particular, infrastructure. Training sessions will be held on up-to-date methods of management and efforts made to improve vocational education in such fields as road construction, water supply and the sewer system.
Minister Misir Mardanov, who signed the agreement with Asad Alam, WB Regional Director for South Caucasus, said during the signing ceremony that the project is valued at $10m, of which $8m will be provided by the International Development Association (IDA) operating under the bank, while the remaining amount is to be funded by the Azerbaijani government.
The main goals of the initiative, to be implemented in 2010-2013, include developing investment projects in the priority sectors of the domestic economy, in particular, infrastructure. Training sessions will be held on up-to-date methods of management and efforts made to improve vocational education in such fields as road construction, water supply and the sewer system.
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