Business Materials 24 June 2005 16:29 (UTC +04:00)

A training-seminar took place in the framework of the Azerbaijan Leasing Development Project (ALDP), to better familiarize the staff of the non-banking organization CredAgro with the existing leasing legislation as well as accounting and taxation procedures in leasing operations, and credit analysis.

The management and 21 employees of CredAgro joined the event, organized through the support of the International Finance Corporation (IFC).

At the seminar, experts in law and finance advised the participants of the seminar on practical solutions to the registration of leasing operations, as well as technical assessment of leasing operations, and taxation and accounting of leasing

The ALDP is set to promote the development of the leasing policy of CredAgro and leasing procedures in general.

ALDP is implemented by the International Finance Corporation through a $1.3 million grant by the Swiss State Secretariat for Economic Development, since May 2003 to April 2006.

In the framework of the project, there has been established the Association of Leasing Companies of Azerbaijan, with technical assistance rendered to all businesses involved in leasing operations. According to project estimates, the amount of leasing operations will significantly grow to 120 million U.S. dollars, with the potential expansion to 400 million U.S. dollars.