Azerbaijan, Baku, 22 January / Trend corr I. Khalilova / The State Securities Committee attached to the Azerbaijani Presidential Administration (SSC) applied for an extension to the implementation term and expansion of a project within the framework of the FIRST INITIATIVE program, the chair of the SSC Gunduz Mammadov said on 22 January.
Donors of the project - international organizations - are currently discussing the opportunity.
"According to the information we have, the donors have a positive opinion about that, and I hope the project will be continued," Mammadov said.
"Assistance will be rendered for establishing and development of collective investment institutions, as well as non-state pension funds, in Azerbaijan," he said.
In order to study the activities of the investment funds and collective investment funds, meetings with the heads of the FIRST INITIATIVE program and the investment consulting company C Bond and Co were held in Great Britain last year. Data about investment funds, their establishment, activities and state management was gathered during the visit and prospects for establishment of collective investment institutions in Azerbaijan were discussed.