Directions of USAID Technical Assistance to National Bank of Azerbaijan

Business Materials 16 October 2007 11:11

Azerbaijan, Baku / corr Trend I.Khalilova / The US Agency for Assistance to International Development (USAID) is preparing to tender to the National Bank of Azerbaijan (NBA) a technical assistance in two directions on banking control and monetary policy, Emin Huseynov, the Director of the NBA Department for Statistics and Researches, said.

Huseynov said that a consultant on the first direction of assistance has been determined and in the near future сit will set up its activities. USAID is also in process of selection of an adviser for development and implementation of a monetary policy for the NBA.

The consultations will be required for the development of financial stability analyzing methodology, diagnostic analysis in the central data bank of the NBA, econometric modelling, and general trainings on macroeconomic theory. At the same time, he believes that the consultant has to see for himself the ongoing processes in the NBA, to reveal susceptibilities, and to submit an agenda.

It is the second year that USAID is rendering technical assistance to the NBA. The first assistance program was completed in June 2007. Technical assistance of the new program will be intended not only for the NBA but also the Azerbaijan Economic Development Ministry.

Several training sessions have been held with the participation of leading specialists from Central Banks of Britain, France and Holland. The employees of the National Bank have been sent on a mission to Turkey and Poland for practical training in actual situations developed by Central Banks of these countries.

The National Bank and USAID have a long-term technical assistance program covering all directions of the Bank.