KfW new manager to be introduced to Azerbaijani gov't

Business Materials 24 September 2011 13:59

Azerbaijan, Baku, Sept. 24 / Trend I. Khalilova /

The new manager for financial projects in the German development bank KfW Kurt Strasser will start his visit to Azerbaijan on Sunday. A new manager will be introduced to the Azerbaijani government, the KfW Baku office told Trend on Saturday.

"The bank plans to appoint a new country manager for financial projects in Azerbaijan by late 2011," the office said. A new manager will arrive in Baku within the KfW mission."

The KfW delegation is headed by acting country manager for financial projects Herald Xubner.

Strasser will replace him by late 2011.

Strasser will familiarize with the activity of the bank in the country. He will hold several meetings with KfW partner and new banks in the Azerbaijani Central Bank.

The representatives of the German bank will also take part in the meeting of the AccessBank founders. KfW owns 20 percent share in the capital.

Azerbaijan has been cooperating with the German development bank since 1994. The strategic spheres are the restoration of energy, water and other infrastructure, the support for the development of the financial and banking sectors, the private sector, health, etc.

KfW Group provides loans, investments in capital and guarantees and technical assistance.