Armenia to sign an additional agreement with EDB on financing E-Labor  Exchange programme

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.