TODAY.AZ / Business

Memorandum signed between Economic development Ministry and Asian Bank for Development

03 August 2005 [08:56] - TODAY.AZ
An Understanding Memorandum was signed with the Asian Bank for Development (ABD) on realization of the new joint technical aid project in the Economic Development Ministry (EDM) yesterday.
The document was signed by the economic development minister Farhad Aliyev on behalf of the government of Azerbaijan and by the head of the representation of the bank in Azerbaijan Matthew Westfol on behalf of ABD.

F.Aliyev said that the main goal of the project is to render technical aid to preparation and realization of the long-term durable development strategy for achieving the Development Goals of Millennium (DGM) in accordance with the “State Program on Poverty reduction in countries and Sustainable development in 2006-2015”: “The main results expected from realization of the project are preparing the next strategy on long-term sustainable development encircling the investment plan and monitoring procedures and reflecting the goals of DGM, strengthening the data-information system for the purpose of organizing the monitoring of achievements obtained by the country in the direction of DGM’s realization including the indicators of poverty”.

The main executor on the project is the Secretariat on State Program on Poverty Reduction and Economic Development (SSPPRED) working in EDM. The general cost of the project is 1 million 70 thousand USA dollars and 850 thousand dollars of it will be provided by ABD in the form of technical aid.

International and local advisers will realize works in the direction of three parallel services in the frame of the project to last two years – estimating SSPPRED realized during 2003-2005, aid to preparation and realization of the new long-term strategy, composing estimate expenses and the budget on the strategy. Monitoring and estimation of the project will be realized in accordance with the procedures of ABD.



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