BAKU, Azerbaijan, Mar. 12
By Zeyni Jafarov - Trend:
The Asian Development Bank (ADB) is launching the ‘Support for reforms and capital market growth in developing Asian countries’ program, Trend reports on Mar.12 referring to a source in the ADB.
According to the source, the project covers Azerbaijan, Mongolia, and Uzbekistan, and the allocated technical assistance in the amount of $750 million will be financed by Korea’s E-Asia and Knowledge Partnership Fund (EACPF).
Within the program, the capital markets of the mentioned countries will be analyzed and the level of their development determined. Further, consultations will be organized with the relevant state and private bodies, and the road maps will be prepared.
Besides, various diagnostic studies will be carried out to identify problems that hinder the development of the government and corporate bond market. Capacity building programs and knowledge-sharing activities such as webinars, workshops, and (virtual) study tours will be implemented to address the priorities.
Since 1999, the ADB, within the framework of cooperation with Azerbaijan, has allocated funds in the amount of $4.4 billion to the country.
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