EBRD provides credit to attract consultant for MBASK

Business Materials 11 April 2006 14:08 (UTC +04:00)

The European Bank for Reconstruction and Development (the EBRD) intends to use technical assistance funds towards the costs of engaging a consultancy firm to provide advisory services to MBASK Insurance Company (MBASK), a privately held insurance company in Azerbaijan. The maximum budget amount designed for the consulting services is 195.000 EURO, without possibility of increase, Trend reports citing the Euro Bank head office.

The contract for the assignment must be in place no later than 17 July 2006, but in any event the consultant will need to commence the Services in the second quarter of 2006. The contract duration is 12 months.

The overall objective of the assignment is to advise and assist the management of MBASK in the choice, purchasing and implementation of a new insurance IT software system and the development and implementation of a related MIS system. It will have to ensure that a new IT system is installed at MBASK and that the software chosen is the most suitable for the Azeri market and a company of the size and complexity of MBASK. Ensure that the system is adapted to function fully in an Azeri company and to ensure efficient operational and business management at MBASK through the implementation of a related MIS framework. It has to define the IT provider, purchase the computer and communication equipment.

Euro Bank owns 20% of MBASK assets from the last year.