Seco Approves Two Projects for Azerbaijan for Five Years
Azerbaijan, Baku, 26 May /corr. Trend I.Khalilova / For the first time in the history of Swiss State Secretariat for Economic Affairs (Seco), the Government of Switzerland approved two projects for Azerbaijan for a period of five years because till now the projects were approved maximally for 2-3 years, said the head of national programs in Seco, Naila Safarova, on 26 May. More than €4mln allocated for each of the projects on technical assistance to corporate development (second phase) and on protection of rights of investors and development of capital market.
"The projects were approved by the Seco Board because they describe impressive contribution of the Government and obligations on development of private business," Safarova said.
These projects have been included in the strategy of activity of Seco on technical assistance to countries of South Caucasus, which covers 2008-2011. It will concentrate in two directions - economic development and macroeconomics.
The current Seco 2007 budget for Azerbaijan totals $5mln. The amounts for the next years will change insignificantly and will total nearly $5mln.
The assistance will be provided in two lines - Seco and Swiss Agency for Development and Co-operation.
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