Azerbaijan, Baku / corr Trend S.Babayeva / The World Bank (WB) has positively estimated the work done under a joint project with the Azerbaijani Government on Development of Financial, directed at upgrading the postal network of the country in providing financial banking services.
This statement was made by Michael Edward, the head of the WB mission on the project, in a meeting with the Azerbaijani Minister for Communications and Information Technologies. The Ministry announced that the WM official visited Azerpocht and became familiar with the work done under the project over 6 months of this year. The head of the mission noted that he hoped Azerbaijan would become a model for other countries of the region in the development of the postal sector.
The project is implemented under the state program on the development of communications and information technologies system in the country (Electronic Azerbaijan) in 2005-2008 and the state program on the development of the national payment system (2005-2007).
The agreement with WB was signed on 24 May 2005. The signatories were Ali Abbadov, the Azerbaijani Minister for Communications and Ahmed Jehani, the International Agency for Development, a member of the WB, head of the Baku office of WB.
The total budget of the project is $17.5mln, to be financed by WB ($12.25mln), the Azerbaijan Government ($1mln by the National Bank of Azerbaijan and $6mln by the Ministry of Communications).