Seco approves technical assistance to up financial infrastructure in Central Asia, Azerbaijan
Azerbaijan, Baku, Nov. 23 / Trend , I.Khalilova /
The Swiss State Secretariat for Economic Affairs (Seco) is ready to finance 92.3 percent of the project's cost to strengthen financial infrastructure in Central Asia and Azerbaijan. The International Finance Corporation sanctioned the project in 2009.
Seco approved technical assistance amounting to $2.4 million to finance the project, Seco National Program Manager in Azerbaijan Naila Safarova said today. The total amount of the project is $2.6 million.
The project aims to improve the infrastructure of financial markets in Tajikistan, the Kyrgyz Republic, Uzbekistan and Azerbaijan by exchanging credit information and introducing professional training and certification in risk management among financial institution employees.
The project assists financial institutions to make rapid and correct credit decisions by ensuring finance availability for private consumers, as well as small and medium enterprises in the region.
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