Azerbaijan, Baku, April 22 / Trend , A.Badalova/
The International Finance Corporation (IFC) is designing a new program to enhance the financial infrastructure in Azerbaijan and Central Asia (excluding Kazakhstan and Turkmenistan), IFC Project Manager Anastasia Marina said. The program will replace the leasing project, which has been implemented of 2005.
Program's purposes and plans are being determined
"IFC is holding talks with potential donors to attract investments to the program. So far the program was proposed to the Swiss State Secretariat for Economic Affairs (Seco). Donors are expected to give positive response before June and the program will be launched in July," Marina said.
The program will cover three years with a potential expansion of within two years.
Seco National Program head Naila Safarova said that the organization would invest approximately $2.4 million in the project.
Since 2003, the corporation has issued $6 million credits to leasing companies, and Seco has allocated $3 million for technical assistance.
There are 19 leasing companies in Azerbaijan. As for 2008, Azerbaijan's leasing portfolio hit $208 million.
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