Bank Of Baku

WB to allocate $ 12 mln to projects on modernization of capital market in Azerbaijan

WB to allocate $ 12 mln to projects on modernization of capital market in Azerbaijan
# 04 April 2011 09:36 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. The World Bank will allocate $ 12 mln to the project on modernization of capital market in Azerbaijan, said the WB manager on Azerbaijan Joseph Owen.

According to him, the official procedures of this project are being conducted, currently: “WB is expected to allocate the fund in June-July”.

Note that, this project will be discussed in the WB Council of Boards on April 17. Swiss State Secretary of Economic Affairs (SECO) will also allocate $ 3 mln to this project. This project is a part of Strategy on development of capital market in Azerbaijan by WB First Initiative program. Mid-term action plan on capital market development strategy in Azerbaijan and its implementation for 2011-2015 will be developed within the project.

Remind that, Azerbaijan has been in cooperation with WB since 1992.
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