The Asian Development Bank’s (ADB) Board of Directors has approved $250 million in policy-based loans to support the Government of Azerbaijan in its efforts to strengthen governance in the public sector and diversify the economy through greater private sector participation.
“Azerbaijan’s comprehensive reform program will help modernize its economy and promote inclusive growth in the medium to long-term,” said Sean O’Sullivan, Director General of ADB’s Central and West Asia Department. “ADB’s support will help the country improve the efficiency of the public sector, while increasing access to finance and making it conducive for small businesses.”
The fall in oil prices since 2014 has hit the Azerbaijan economy hard given that oil and gas revenues account for about 35% of the country’s gross domestic product, 60% of budget revenues, and over 90% of export revenues. In response, the government has intensified its efforts to promote economic diversification away from the hydrocarbon industry with additional incentives to private investors in other sectors and spurring job creation by expanding small and medium-sized enterprises and infrastructure projects.
ADB’s support under the first subprogram of the Improving Governance and Public Sector Efficiency Program is aimed at helping Azerbaijan on a path of fiscal consolidation and economic diversification. The first phase of reforms will introduce rules-based fiscal planning, improve governance of state-owned enterprises, and encourage private sector participation in the economy by easing access to finance. Subprogram 2, which will reinforce and cement the progress under the first subprogram, is scheduled for 2018.
As of 5 December, Azerbaijan has received grants and loans amounting to $4.1 billion since joining ADB in 1998. ADB’s core ongoing operations in Azerbaijan include support for transport, energy, urban infrastructure, and the private sector, and technical assistance and programs in various areas, including knowledge sharing of best international practices on finance, education, governance, and economic development. ADB will continue to work with Azerbaijan and other development partners to promote cross-border links within the Central Asia Regional Economic Cooperation (CAREC) Program.
China-Eurasia Council condemns aggression of Azerbaijan
China-Eurasia Council for Political and Strategic Research strongly condemns Azerbaijani aggression which Baku started on July 12, 2020. Azerbaijani Ministry of Defense is a threat for the entire World as it is speaking about its aims to strike Metsamor Nuclear Plant, which is located in Armenia. Baku must understand that this is a crime against humanity, and it is equal to nuclear strike.The destruction of Metsamor Nuclear plant will be a disaster not only for Armenia, but also for Iran, Georgia and Azerbaijan, it will harm World’s environment and stand a real problem for several generations of the World. It is worth mentioning, that this time Baku attacked the Northern borders of Armenia, which are sovereign territory of the Republic of Armenia according to International law. Azerbaijan violated the principle of territorial integrity of a sovereign state, which is one of the important pillars of International law.
China-Eurasia Council for Political and Strategic Research condemns Azerbaijan for using force against civilian population of Armenia and calls for peaceful negotiations. Baku must show solidarity and join global ceasefire initiated by the UN secretary general Antonio Guterres and must not try to escalate the situation on the border to deflect public attention from the situation concerning the outbreak of Covid-19 in Azerbaijan. We call official Baku to take care of Azerbaijani people in the hard times of Coronavirus and not send its soldiers to real death. Being multinational Council, for us It’s terrible to hear about lossfrom both sides and we express our sincere condolences. Hopefully peace will come to South Caucasus, which is an important crossroad in Eurasian mainland and it can stand a very important link for Belt and Road Initiative, if all problems solved in a peaceful way.
Condemnation Of Armenian Aggression By Friends Of Azerbaijan (FoA)
Friends of Azerbaijan (FoA) strongly condemns the coward act of Armenians aggression in the Tovuz district of Azerbaijan that is a sheer violation of international borders and law. The act is an attempt of Armenia to drive global attention from the peaceful dialogue and negotiation process on Nagorno Karabakh.
In an online meeting of the delegates of the Friends of Azerbaijan (FoA), a joint declaration of condemnation has been issued by the honorable members of Friends of Azerbaijan (FoA).
According to this declaration, Armenian aggression can jeopardize the whole South Caucasus region. The incident on July 12, 2020, is being considered as a direct attack on Azerbaijan and the repercussions of this incident can result in massive catastrophe in the entire region.
The delegates of Friends of Azerbaijan (FoA) stressed the global powers to come forward and take serious action on Armenian intervention by violating the international border of Azerbaijan. The act of Armenia is an open challenge to the sovereignty of Azerbaijan.
Malik Ayub Sumbal founder of Friends of Azerbaijan (FoA) termed that Armenia is losing its legal and moral position on Nagorno Karabakh and there is mounting pressure on Armenia by the international community for the peaceful solution of Nagorno Karabakh according to the UN Resolutions. At this time to get rid of such kind of diplomatic moves, Armenia has launched another major front in Tovuz.
When the whole world is busy against the Covid19 Armenian Prime Minister has chosen a very dangerous path that can take the whole region into war and bloodshed.
Friends of Azerbijan (FoA) is firmly standing with shoulder by shoulder to the people of Azerbaijan and martyr’s families at this hour.
Kyrgyz Republic to Enhance Quality of Education with World Bank Financing
The Kyrgyz Republic will receive World Bank financing for the Learning for the Future Project in the amount of $50 million, on highly concessional terms. $25 million is allocated in the form of a grant, which requires no repayment, while the other $25 million is credit with a 0.75% interest rate, with repayments eased over 38 years, and a six-year grace period.
“The Learning for the Future Project aims to help raise the Kyrgyz Republic’s human capital through enhancing school readiness and teacher effectiveness,” says Bolormaa Amgaabazar, World Bank Country Manager for the Kyrgyz Republic. “The project puts special emphasis on distance and online learning, increasing digital literacy and building teacher capacity for best teaching-learning practice. Such support will help the country’s education system better respond to learning from home during the current school closures and recovery period from the COVID-19 pandemic. In the long run, this approach will help better prepare children for learning and adapting to a fast-changing future economy.”
The project has four main areas of support: expanding school readiness for underserved children; increasing effectiveness in teaching practice; enhancing technology-enabled support for learning; and enhancing measurement of learning. In the coming five years, the project will specifically help:
- Establish 500 fully equipped community-based kindergartens in rehabilitated premises, thus enabling a successful transition to school for 20,000 children aged 3-5 years, in poor communities countrywide;
- Build teacher competencies for more effective teaching of reading, mathematics and sciences in primary and secondary schools, through training in effective pedagogy and assessment, provision of digital learning content, resources and materials in 1,200 schools (53 percent of the total number of schools in the country);
- Provide digital literacy training for 36,000 teachers to enhance their capacities to use digital technologies for professional development and effective teaching;
- Equip 1,200 schools with an IT platform to support technology-enabled teaching and learning. The Republican Institute of In-Service Teacher Training will assist in developing digital content for teaching and learning;
- Introduce a new criteria-based assessment instrument and methodology, develop and introduce standardized tests aligned with new learning standards, conduct the National Learning Assessment in 2023 for grades 4 and 8, and participate in the Program for International Student Assessment (PISA) 2024.
The project will be implemented by the Ministry of Education and Science of the Kyrgyz Republic during 2020-2025, using its existing institutional structures and in compliance with relevant World Bank procedures and standards.
The project supports the World Bank’s 2019-2022 Country Partnership Framework for the Kyrgyz Republic and is closely aligned with the National Education Sector Strategy-2040 of the Ministry of Education and Science, which is now under development. The project was approved by the World Bank’s Board of Executive Directors on March 31, 2020 and was ratified by the Parliament of the Kyrgyz Republic on June 11, 2020.
Half of Working Adults Fear for Their Jobs
In a new World Economic Forum-Ipsos survey of more than 12,000 working adults in 27 countries, more than half (54%)...
APEC Promotes Small Businesses & Patient Health with New Business Ethics Vision
APEC strengthens its commitment to push for patient health and cross-border trade with the launch of a bold, new vision...
Why does the EU want to regulate the platform economy?
The platform economy brings benefits but also risks. Read about the issues the EU wants to solve with new rules...
The world economy needs a new engine of economic recovery-ILO
As labour markets around the world continue to reel from the COVID-19 crisis , ILO Director-General Guy Ryder has called for...
Countries Raise the Sails on Offshore Renewables Sector
Offshore renewables, including offshore wind, wave, tidal, ocean thermal, and floating solar PV, will witness substantial growth in capacity over...
2020 Deloitte-NASCIO Cybersecurity Study Highlights Imperatives for State Governments
Deloitte and The National Association of State Chief Information Officers (NASCIO) released their 2020 Cybersecurity Study, “States at Risk: The...
U.S. versus China, and U.S. versus Russia
The main ideological conflict in the world used to be between capitalism versus communism. After the end of the Soviet...
Economy2 days ago
Bangladesh: The Rising Economic Power
New Social Compact3 days ago
When Fundamentalists Come to Power, Women Lose
Eastern Europe3 days ago
Who’s Who in Nagorno-Karabakh
Eastern Europe3 days ago
Nagorno-Karabakh, the small Thirty Years’ War in the Caucasus
Europe3 days ago
Why the West Needs a New Eurasian Strategy
New Social Compact2 days ago
Of Here and Now: Pandemic and Society in 2020
Health & Wellness3 days ago
COVID-19 rise in Europe a great concern: WHO
Eastern Europe2 days ago
Nagorno-Karabakh: A Frozen Conflict Rethawed