EDB and& WB study labour migration in the SES
St. Petersburg, 18 June 2013. Within the next five months the World Bank (WB) and Eurasian Development Bank (EDB) will undertake a joint research titled The Transportability of Pensions in Labour Migration Processes in the EurAsEC Countries. The respective agreement was reached last week between Michal Rutkowski, WB Country Director and Resident Representative in Russia, and Evgeny Vinokurov, Director of Eurasian Development Bank’s Centre for Integration Studies.
The current approaches to foreign workers’ pensions in the region differ from country to country and the retirement insurance schemes in the context of international labour migration are not sophisticated. At the same time this is a pressing concern for millions of people. The transportability of pensions must be ensured as integral part of the freedom of movement of workforce in the framework of the emerging single labour market in the SES. The mobility of pensions is deemed an important part of a coordinated social policy. This is particularly relevant in the context of negotiating Kyrgyzstan and Tajikistan’s membership of the SES.
The research will comprise a comprehensive analysis of the respective global experience and pension practices for labour migrants in the EurAsEC member states. The joint report will be completed in November and is expected to present conclusions and recommendations for the respective national and interstate structures produced by WB and EDB experts based on their research.
The agreement to conduct this joint research is based on the WB and EDB Framework Cooperation Agreement entered into in March 2011, which governs the relationships of the parties, including the arrangement of joint research work.
Additional Information
The World Bank Group is made up of five unique international development institutions owned by 187 member countries: the International Bank for Reconstruction and Development (IBRD) together with the International Development Association (IDA)—widely known as the World Bank (WB); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for the Settlement of Investment Disputes (ICSID). Each of these World Bank Group institutions plays a different, but collaborative role in advancing the vision of inclusive and sustainable economic growth in a globalised world. The IBRD aims to support growth in middle-income countries and reduce poverty in creditworthy poorer countries, while the IDA focuses on the world’s poorest states.
Read more about the WB at https://worldbank.org/russia
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Read more about EDB at https://www.eabr.org
The Centre for Integration Studies is a specialist research centre of Eurasian Development Bank. The Centre organises research and prepares reports and recommendations on regional economic integration. Read more about the Centre’s projects and publications at www.eabr.org/r/research/analytics/centre/