USAID and NBA to finance Azerbaijan financial sector stability program

According to Day.Az, an agreement on $4,750,000 was signed in a form of a memorandum of mutual understanding. The main aim of the program is strengthening of the systems of NBA control over the risks, regulation of human resources and IT and improvement of the potential of macrofinancing analysis of the National Bank.

"This is a two year project, aimed at the institutional improvement of the National Bank. The banking sector plays an important role in the country's economy, supporting small, middle and large businesses, it influences the social welfare of the population", said USAID representative at the signing ceremony.

According to NBA chairman Elman Rustamov, in the framework of the project the banking structures of the United States will share experience in the sphere of mortgage lending, settlement of problems in conditions of world financial crisis and so on.

In the framework of the said agreement USAID will provide the financial and other support for $4,000,000 and NBA $750,000.

/Day.Az/