World Bank to help improving Azerbaijan's financial sector

World Bank to help improving Azerbaijan's financial sector

The World Bank (WB) will launch the second project on modernization of financial sector in Azerbaijan in late November-early December 2016, the WB private and financial development sector leader, Angela Prigozhina, said.

"We continue work within the first project on modernization of the financial sector, however, we plan to launch the second project in late November-early December 2016 that will be financed jointly with Switzerland's State Secretariat for Economic Affairs (SECO),” Trend cited Prigozhina as saying.

She added that the SECO will allocate $3 million as part of the technical assistance.

Prigozhina said also that the WB will also work with Azerbaijan Deposit Insurance Fund (ADIF) in order to bring its activity in line with international standards.

The project will last for more than three years, according to her.

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