TODAY.AZ / Business

World Bank to allocate $10m for development of Azerbaijan's stock market

19 April 2007 [08:11] - TODAY.AZ
Azerbaijan's State Committee for Securities has submitted new proposals to World Bank in the frame of modernization of financial sector of the country.

Chairman of the committee Gunduz Mammadov told APA-Economics that the proposals cover assistance to development of broker companies' technical basis, establishment of investment funds, and improvement of depository systems. Technical assistance to development of privately-owned pension funds has also been included into the proposals.

World Bank's mission is expected to visit Baku this summer to discuss the proposals. The bank plans to allocate $10m for Azerbaijan on this purpose.

This project is a part of the World Bank's 2007-2010 Partnership Strategy with Azerbaijan.

URL: http://www.today.az/news/business/39657.html

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