The global financial crisis visually "highlighted" the pain points of the CIS countries, making particularly difficult the integrated development of the economies of the Commonwealth. In such a situation, the role of each state increases as a guarantor to create favorable conditions to finance various sectoral projects and programs through public-private partnership. Now there are real prerequisites for this.
Oct. 20-23, 2010, Baku hosted the third International Conference on the topic "Financial Institutions - the basis of structural modernization of the CIS economy" with the support of the CIS Executive Committee, CIS Financial and Banking Council, the International Bank of Azerbaijan.
The conference focused on the role of international and regional funds in financing the structural modernization, the experience of national and supranational agencies of the CIS in the creation of a favorable climate and coordination of the modernization projects of national development institutions in the implementation of cross-border projects in the CIS countries.
Particular attention was paid to financial and economic development of Azerbaijan as an important factor of integrated infrastructure upgrading in the Caspian region.
At the conference, members of the CIS Finance and Banking Council also noted that Azerbaijani economy has demonstrated stability even in the current economic disasters, primarily due to the results achieved also due to the effectiveness of anti-crisis measures. These measures have been recognized by the expert community as one of the most active in the post-Soviet area. Over the past two years, the World Bank recognized Azerbaijan as a world-leader state in reform, and leading international financial institutions named the country in the group of countries less affected by the global crisis.