Azerbaijan, Baku, November 3 / Trend N. Ismayilova /
The joint project 'Reforms of financial infrastructure' of the State Secretariat for Economic Affairs (SECO) and IFC will be approved in Azerbaijan during a month, head of SECO national program in Azerbaijan Nailya Safarova said.
"The project has been approved by the directors' board. At present, Swiss state secretary for economic affairs Jean-Daniel Gerber must approve it," Safarova said.
She said that this process will complete during a month. SECO will allocate $2.4 million to finance the project.
Earlier, approval the project was postponed from July to autumn of 2009 due to reshuffle of employees in SECO headquarter.
The development project of financial infrastructure in Azerbaijan and Central Asia (except for Kazakhstan and Turkmenistan) designed by the IFC. It is aimed to develop financial infrastructures of the country, including establishment of private loan bureau and certified program on risk management.
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