Azerbaijan, Baku, May 20 / Trend , N. Ismayilova/
New program for strengthening Azerbaijan's and Central Asia's financial infrastructure (excluding Kazakhstan and Turkmenistan) designed by the International Finance Corporation (IFC) will be launched in autumn 2009, IFC consultative programs manager general in the region Tatiana Lozanski said.
"We are in stage of approving finance for this project and hope that it will be launched in autumn," Lozanski said.
She said the project is fully ready and now Swiss Secretariat for Economic Affairs (Seco) is considering the funding.
The program is scheduled for three years with potential extension for a further two years.
The head of the national program in Seco Naila Safarova said the Seco will presumably allocate $2.4 million.
Since 2003, the IFC has issued loans worth $6 million to Azerbaijani leasing companies and Seco has rendered technical assistance worth $3 million.
There were 12 leasing companies in Azerbaijan in 2007, but now their number reaches 19. The volume of leasing portfolio of Azerbaijan reached $208 million in 2008.
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