National Bank of Azerbaijan and USAID sign a Memorandum of Understanding

National Bank of Azerbaijan and USAID sign a Memorandum of Understanding
# 25 November 2008 16:35 (UTC +04:00)
Baku. Elnur Huseynguluev - APA-Economics. National Bank of Azerbaijan (NBA) and USAID have signed a Memorandum of Understanding on the Financial Sector Stability Program (FSSP).
The document was signed by Elman Rustamov, Chairman of the NBA, and Henrietta H. Fore, USAID Administrator and Director of U.S. Foreign Assistance.
Elman Rustamov said the main objective of the program is to further expand the central bank’s risks management system, human resource management and information technology systems, as well as improving the capacity of macroeconomic analysis.
Under the memorandum for co-financing, USAID will provide $4 million and NBA will allocate $750 000 for the program.
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THE OPERATION IS BEING PERFORMED