ArmInfo.On September 22, the Government of Armenia approved the draft decree of the President of the Republic of Armenia "On approval of additional agreement No. 1" to the agreement between the Republic of Armenia and the Eurasian Development Bank on the provision of a grant from the funds of the Eurasian Fund for Stabilization and Development to finance the E-Labor Exchange programme.
As ArmInfo previously reported the Eurasian Fund for Stabilization and Development (the former EURASEC Anti-Crisis Fund) will award a $518,000 grant to Armenia for establishing an e- labor exchange.
At its meeting on Thursday Armenia's Cabinet approved a proposal to sign a grant agreement with the Eurasian Development Bank. The EFSD will award a grant under the E-Labor Exchange programme. The e-labor exchange will help resolve a number of employment problems in Armenia by affording ampler opportunities to jobseekers and employers, which will reduce unemployment in the country.
As stated in the current decision of the Cabinet of Ministers, according to the approved budget of the programme, as well as the strategy and procurement plan, a significant part of the procurement will be carried out through local tenders, that is, it is planned that contracts will be concluded with resident companies of the Republic of Armenia, and payment will be made in national currency.
, - the document says. In this regard, it is proposed to sign additional agreement No. 1 on the unification of categories, which will allow for the full implementation of all activities planned by the programme and on time.
The Eurasian Fund for Stabilization and Development (the former EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of US$ 8.513 billion established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia, and Tajikistan to overcome negative crisis consequences, to provide long-run sustainability and to foster economic integration of EFSD member countries. The Fund provides the following assistance to the member states:financial credits for budget support and (or) balance-of-payments support, available to governments only; investment loans, provided either to EFSD member states or to companies; grants to finance government programmes in the social sector.