Project on modernization of capital markets in Azerbaijan to provide sound financial platform for development of non-oil sector

To discuss the status of preparation of the project on modernization of the capital market, which is planned to be included in the loan portfolio under the WB new partnership strategy with the Government of Azerbaijan, on Tuesday the State Securities Committee hosted a meetingt with the WB chief specialist for the financial sector Michael Edwards and with a delegation of State Secretariat for Economic Affairs of Switzerland, SSC reported on Tuesday.

The chairman of the SSC Rufat Aslanli expressed satisfaction with the work on preparation of medium-term strategy for capital market development in Azerbaijan by the First Initiative Program, financed by various international donors and managed by the World Bank. He also expressed hope that the project of modernization of the capital market will make a useful contribution to the implementation of a new strategy of the WB.

The head of the WB mission Michael Edwards expressed confidence that the development of this sphere will provide a healthy financial platform for the development of non-oil sector.

The meeting participants also exchanged views on the mechanisms of implementation of new projects to be implemented within the potential cooperation with the World Bank and SECO, development objectives and result indicators.


/Trend/