Completion period of one of IFC projects in Azerbaijan revealed
Baku, Azerbaijan, Dec. 18
By Taleh Mursagulov - Trend:
The International Finance Corporation (IFC) expects to complete implementation of the IFC Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project in summer 2019, a source in the financial market told Trend.
All the main tasks have already been completed, according to the source. Azerbaijan already has a law on a credit bureau and a law on secured transactions.
"A credit bureau and a registry of movable property are already operating in Azerbaijan," the source said.
As part of the project, IFC has already conducted training, and next year the Corporation plans to conduct training on the assessment of movable property.
The project aims to strengthen financial markets infrastructure in Azerbaijan and Central Asia by developing effective credit information sharing and introducing formal risk education and certification for financial institutions' employees.
The project is financed by the government of Switzerland.
Azerbaijan cooperates with IFC since 1995.
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