During annual meeting in Moscow the shareholders of the National Reserve Bank of Russia (NRB) in РњРѕСЃРєРІРµ stated over the reviewed period the NRB and the National Reserve Corporation was involved in preparations for opening of joint representation in Azerbaijan, Trend reports.
In the beginning of 2006, when the representative office started functioning, the NRB started the implementation of some investment projects in the territory of the country. In particular, he is participating in the construction of a big shopping center and several bloc of flats РґРѕРјРѕРІ in Baku, supports program on rehabilitation of iodine industry in Azerbaijan and invests in establishment of enterprises on module production.
The National Bank of Azerbaijan told Trend the NRB has not yet appealed for permission on opening of its representative office in Baku. The bank did not exclude that the NRB can have its representative office, upon undergoing registration at the Azerbaijani Justice Ministry. The projects of the corporation can be implemented at the expense of the National Reserve Bank.
The Justice Ministry told Trend that the NRB had not been registered officially.