Azerbaijan, Baku / Trend corr. I.Khalilova / Agency of International Development of US (USAID) made a decision to restore the technical assistance program to the National Bank of Azerbaijan, which expires in June 2007.
Emin Huseyinov, the Director of the State Statistic and Research Department, stated on 17 August that concrete work will begin after signing the agreement. The tender has already been advertised to interested companies. The company will coordinate the technical assistance, envisaged both for the National Bank and the Ministry of Economic Development.
"We work with USAID for two years within the framework of this program and planning to include some other areas as well." Huseyinov noted.
Consultations are required to develop the methodology of financial stability analysis, diagnostic analysis in the central database of the National Bank of Azerbaijan and others.
Several training sessions have been held with the participation of leading specialists from Central Banks of Britain, France and Holland. The employees of the National Bank have been sent on a mission to Turkey and Poland for practical training in actual situations developed by Central Banks of these countries.
The National Bank and USAID have a long-term technical assistance program covering all directions of the Bank.