National Bank of Azerbaijan is planning to transfer $100-150mln from its currency reserves to World Banks treasury disposal in Q2. Trend reports quoting the Banks chairman Elman Rustamov, the Banks officials are currently talking to WB and at the same time execute a training program for National banks employees.
This kind of transfer is quite habitual, but WBs proposal is more seductive as the banks actions are accompanied with technical assistance and experts training.
NBA is not going to replace other foreign managers. В"Reserves grow up alongside the necessity in raising the portfolioВ", - Rustamov says.
He said by the end of the year currency reserves will grow to $1.5bn less IMFs credits repayment. NBA repaid IMFs credits at$15mln in Q1. Currency reserves today amount $1.058bn that matches 4.4month import amounts.