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.
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