The FINANCIAL — According to APA-Economics, the World Bank Vice President for Europe and Central Asia Mr. Shigeo Katsu has acquainted himself on December 10 with establishment of individual accounting system with the framework of the Pension and Social Assistance Project for Azerbaijan that aims to assist the Government to better administer social protection programs, make the pension system more sustainable and build capacity to better target social assistance benefits to the most vulnerable groups.
Salim Muslimov, Chair of Azerbaijan State Social Protection Fund, the process of implementation of the project is ongoing throughout the country.
He said the work is under way to connect local network to regional network.
“Insltallation of the system is about to be completed. It is planned to buy generators, servers and fire protection devices for provincial departments and public relations have been strengthened in local areas. We hope the World Bank will support the activities,” he added.
Muslumov also noted that pension and social insurance reforms are supported by population. According to him, reforms will continue to reduce the burden of the economy by increasing the number of the insured, preventing understatement of salary and effective calculations.
Shigeo Katsu said there has been progress in pension and insurance system during the past four years and it is one of the achievements that 80% of pensioners receive pension benefits by card.
Expressing satisfaction with implementation of the project, Shigeo Katsu said the Bank will continue to support reforms in Azerbaijan.
The World Bank Vice President will wrap up his visit on December 12. On December 11, he is scheduled to meet with Prime Minister Artur Rasizade and Deputy Premier Ali Hasanov. He has met with Economic Development Minister Heydar Babayev, Finance Minister Samir Sharifov, National Bank Board Chair Elman Rustamov and other senior officials.
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