In August the Japanese adviser to the Azerbaijani Banking Training Center (ABTC), Shindzuo Kato set up the analysis and development of proposals on the expansion of activities of the Center, including the attraction of foreign assistance. The ABTC told Trend that the adviser will also give recommendations to the Japanese government on cooperation with Azerbaijan.
Final conclusion on the analysis and compiling of recommendations can be available in the end of his two-year mission. The first recommendations will received during his mission. Kato renders services in the implementation of the project financed at the expense of the Japanese government’s grant.
Initially it was planned to use it only under the project on development of business services of the ABTC to small and medium enterprises implemented with support from the International Finance Corporation and oil company BP. ABU Consult GmbH, a German company, as a technical consultant on the project.
An intention protocol on the project was signed by the ABTC and IFC on 8 May 2003. A grant agreement on financing $677.25 was concluded by the IFC, BP and ABTC in June 2004. On compliance with the agreement, the IFC and BP will allot $270.45 and $267.3 respectively, while the ABTC will deliver services for $45,000.
The project with the term of 2 years was sanctioned on 1 June 2004.