Republic of Korea to assist development of vocational education in Azerbaijan
Baku, April 11 (AzerTAc). The Republic of Korea will assist Azerbaijan in improving vocational education as the two countries embarked on a project that will see the building of the Vocational Training Center in Baku.
The two countries signed agreements on the allocation of separate loans by the Republic of Korea`s Economic Development Cooperation Fund and the Export-Import Bank of Korea to the Azerbaijani government for construction of the facility.
The agreements were signed as part of the visit of Executive Director of Export-Import Bank of Korea Seong-Hyeog Yim and the Republic of Korea`s Ambassador in Baku Choi Suk-inn to Azerbaijan`s Ministry of Education.
The project is aimed at building modern vocational education system in Azerbaijan, assisting development of highly-qualified professionals, creating employment opportunities, supporting poverty reduction policy, reducing the dependence of the country`s market on foreign workforce, and fostering development of small and medium sized entrepreneurship.
Some $22 million of the project`s estimated $39.28 million budget will be provided by Korea`s Economic Development Cooperation Fund.
The project will be implemented with the help of Korean specialists.