European Commission Began Assessing Financial Management System in Azerbaijan

Business Materials 14 December 2006 19:24 (UTC +04:00)

The European Commission began to assess the financial management system in Azerbaijan. The Director of the Co-ordination Office of European Union Technical Assistance Program for Azerbaijan (Tacis), Asker Alekperov, informed Trend that the EU delegation had arrived in Azerbaijan. The delegation included the employee of the EC Programming Department, Angel Bargoni, Head of the Operating Group for Azerbaijan, Kaydo Serel, Project Manager in Azerbaijan Clara Franchin, Projecting Manager for Program Management and PCA Project Mikol Bekosyak and independent expert for finance management George Briton.

Within the European Neighborhood Policy (ENP), the European Commission offered Azerbaijan for the first time to realize the tool of the sector support of the state budget. The financial management was selected as the first direction within the tool. The EU sent experts to assess the situation.

The project is intended to be financed within the assistance program for 2007. The finances from the budget of the program will be transferred to the state budget and will be intended for support of various sectors.

According to Alekperov, such tool requires bringing the financial management system into conformity with certain standards. The task of the EU experts includes assessing the state policy in this sphere.