IFC PROJECT вЂњDEVELOPMENT OF INITIAL MORTGAGE MARKET IN CENTRAL ASIAвЂќ WILL BE OPENED IN SEPTEMBER
The official presentation of the project of the International Finance Corporation (IFC) вЂњDevelopment of the initial mortgage market in Central AsiaвЂќ for Azerbaijan will be held in the current September.
The project will be implemented in 5 countries: Azerbaijan and 4 countries of Central Asia (Kazakhstan, Uzbekistan, Tadjikistan and Kirgiziya), the lawyer of the projectвЂ™s Baku office Eldar Medjidobv told Trend.
The head of similar projects for CIS countries Elena Klepikova (IFC Moscow office), the project deputy manager Ulubek Telyaev (the IFC Tashkent office) and the projectвЂ™s coordinator Eduard Yakubov (the IFC Moscow office) will arrive in Baku on 6 September to present the project. They will stay in Azerbaijan till 8 September.
The projectвЂ™s implementation at the current stage envisions the market analyses, on the basis of which conclusions and recommendations on improvement the legislation and the financial sphere will be formulated, the IFC Baku office representative Aliya Nuriyeva told Trend.
Medjidov, in his turn, noted, the projectвЂ™s legal and financial experts will make in the first stage of implementation the Diagnostic analyses of financial and legal aspects of mortgage in Azerbaijan. The projectвЂ™s first stage will be completed in the current October. The report will be intended for the IFC internal use.
The second stage presupposes involvement of donors, particularly, for holding special trainings and etc. The projectвЂ™s investment part must be the logical accomplishment of the project, however, its implementation will also depend on the success of the previous stages.
The project for Azerbaijan will not have its project manager, therefore the project will be supervised from Uzbekistan.