Development of Financial Service Project may to be Prolonged
Azerbaijan, Baku / Trend corr. S.Babayeva / The project for development of financial services, implemented jointly by the World Bank, may be prolonged to the first quarter of 2009, Iltimas Mammadov, the Deputy Communication and IT Minister, said on 5 December.
The issue will be discussed with the bank in the near future. Before, the project was planned to complete by the end of 2008.
The main stages of the project have been completed. The key infrastructure which renders financial services has been established in Baku, and the further work will be implemented in regions. It is expected that Azerpocht launches rendering financial-bank services from the first quarter of 2008.
A tender announced on acquisition of postal financial and atomized operation system of local and foreign systems.
The cost of the project made up $17.5mln. Some $12,25mln was allocated by WB and the other share will be allocated by the Azerbaijani Government.