Bank Of Baku

Azerbaijan and WB to sign new loan agreement in the coming days

Azerbaijan and WB to sign new loan agreement in the coming days
# 20 September 2011 13:53 (UTC +04:00)
The project on modernization of capital market is financed by the World Bank’s loan and a grant of the Swiss Secretariat for Economic Cooperation (SECO). The project aims at improving the infrastructure of the capital market, increase the use of capital market instruments and modern international standards, the formation of an optimal regulation of the securities market. The implementation of the project is to support measures under the state program on development of securities market in Azerbaijan (2011-2020).

Note that, the World Bank is expected to give $12 mln loan to the State Committee on Securities.

Note that, $ 3 million more will be highlighted for the implementation of this project by the SECO. The project on modernization of the capital market is part of the program FIRST Initiative, funded by various international donor agencies and managed the World Bank.
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THE OPERATION IS BEING PERFORMED