CHANGE OF CIPF STATUS NOT TO IMPACT ON TACIS PROJECT
Change of the status of the Consultations and Investments Promotion Fund (CIPF) of the Economic Development Ministry will not impact on the project on institutional formation of the fund implemented by the TACIS program.
The implementation of the project is not to be corrected as it has been approved by the European Commission, Asgar Alakbarov, the Executive Director of the Coordination bureau of the TACIS, told Trend. The project may be extended due to the expansion of the CIPF authority. Thus, the Fund will promote the export, but the financing of the project will not change.
The French company Sofreco will implement the TACIS project for the CIPF. The project will start on Tuesday and last till December 2006. The value of the project is 1 million euros with 950.000 euros allotted for payment for consulting services and 50,000 euros for purchase of appropriate devices.