Azerbaijan gets $ 3.5 million for new projects
Swiss State Secretariat for Economic Affairs (SECO) has approved three new projects for Azerbaijan for a total cost of $ 3.5 million. This was reported by Trend with reference to the Baku office of SECO.
In particular, according to SECO, the provision of technical assistance amounting to 600 thousand dollars to public postal operator Azerpoct was approved. In addition, assistance is provided to the State Committee for Securities (SCS) in the amount of $ 1.6 million - to the project of modernization of the capital market (CMMP), as well as $ 1.3 million - to protect the rights of consumers of financial services and financial education within the project , implemented in cooperation with the Ministry of Finance, Central Bank and the SCS. All projects are being carried out jointly with the World Bank and designed for five years.
Since the beginning of the project on "Development of financial services" the part of SECO was $ 500 thousand. The project is implemented by the Azerbaijan government with the support of the World Bank since 2005. The new technical assistance of SECO will facilitate training and will finance re-branding of products of the postal operator.
The WB has allocated $ 12 million for the project of modernization of the capital market. SECO is financing the development of market institutions within this project.