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Project on Financial Services Development to be Discussed in Baku

ICT Materials 15 January 2007 20:50 (UTC +04:00)

The specialists of the Consulting FACP are presently in Baku within the project Development of the financial services realized in co-operation with the World Bank. The project is aimed at modernizing the post network of Azerbaijan, Trend reports quoting Azerpocht State Enterprise.

The main goal of the visit is to discuss and specify the sections of the contract which is planned to be signed in the near future with Azerpocht. Thereafter, the Company will begin work on preparing measures on the project of various consultations.

The visit by the specialists is expected to last for a week. The project is realized within the State Program for ICT Development in Azerbaijan in 2005-2008. The cost of the 3-year project is $17.5 mln, with $12.25 mln from the WB and remaining part from the Government of Azerbaijan.

After the realization of the project, Azerpocht will receive a corresponding status from the National Bank of Azerbaijan to put it into practice. The Enterprise will enter the National Payment System. The Enterprise considers that the services may be available in the capital this year.

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