ALCA to Discuss Leasing Problems with International Finance Institutions in Azerbaijan

Business Materials 19 February 2008 17:00 (UTC +04:00)

Azerbaijan, Baku, 19 February / corr. Trend U. Ismayilova/ The Association of Leasing Companies of Azerbaijan (ALCA) will discuss problems in the leasing market with representatives from the World Bank in Baku on 20 February, Azer Mammadov, the head of the Association said on 19 February.

"We plan to propose including the leasing of the project of Modernization of the Finance System of Azerbaijan," Mammadov said.

Michael Edwards, senior financial specialist of the Bank is in Baku to assess the new project Modernization of the Finance System of Azerbaijan and to determine its components.

According to Mammadov, Aliya Azimova, a representative of the International Finance Cooperation (IFC) will also take part in the meeting.

The IFC has been implementing the project of technical assistance at the fund of finance of leasing in Azerbaijan and Central Asia since 2004 which will be completed in July 2008.

"We plan to discuss leasing problems of Azerbaijan and we hope that they will understand us taking into account the dynamic rise in leasing in Azerbaijan," Mammadov said.

The Association was founded on 27 October 2004 by Ataleasing, Unileasing, and Muganleasing within the framework of the project of IFC on technical assistance to leasing in Azerbaijan.