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Structural reforms in Azeri Post to be completed by this year-end

11 September 2008 13:58 (UTC +04:00)

Baku. Ä°lhama Ä°sabalayeva â€“ APA-Economics. As part of the Financial Services Development Project between the World Bank and the Government of Azerbaijan, the Ministry of Communications and Information Technologies will restructure post branches in regions. 57 post branches will be restructured in total. The restructuring process is slated for completed by the year-end.
Restructuring is complete in 6 of 63 post branches.
The Financial Services Development Project aims to facilitate improvement of the access of the rural population to financial services and improvements in the financial architecture and a component for Azeri Post to build the financial service capacity in rural areas that are presently undeserved or not served by the banking system and to improve access to basic business infrastructure and for delivery of Government services.
The cost of the project is $17.5, of which $12.5mln will be allocated by the World Bank and $5mln by the Government of Azerbaijan.