Finance

Home page

Finance

World Bank allocates $ 100 million to Azerbaijan for Employment Support Project

06 March 2020 11:14 (UTC +04:00)

The World Bank’s Board of Executive Directors approved a $100 million loan from the International Bank for Reconstruction and Development (IBRD) to help finance the Azerbaijan Employment Support Project at yesterday’s meeting, APA-Economics reports citing World Bank.

To achieve its goals, the project will enhance the government’s national Self-Employment Program, by supporting start-ups in the services and production sectors, expanding the program to include an average of 5,000 additional beneficiaries per year, improving governance, coordination, monitoring and evaluation of the program, and testing business support for beneficiaries with strong potential to grow businesses.

The project will be specifically targeted at women, young people, people with low education levels and IDPs in the country.