Azerbaijan State Oil Fund to continue talks with US Trade and Development Agency after formation of Obama's administration

Talks on the implementation of the third phase of the project of the State Oil Fund of Azerbaijan will continue between the Fund and the US agency on trade and development after the completion of the formation of the administration of the new US President, said SOFAR chief executive Shahmat Movsumov.

He said the fund hopes that the contract on the third phase will be signed upon completion of the formation of President Barack Obama's administration.

As is expected, in the framework of this stage the fund will be provided with assistance in creation of a department and system on risk management, establishment of a training basis for training financial managers. The cost of this phase is estimated at $700,000-800,000.

/Day.Az/