The Central Bank of Azerbaijan (CBA) has started cooperation with Türkiye's Reasürans company, which specializes in earthquake risk modeling in Türkiye, CBA General Director Ziya Aliyev told reporters, according to Report.
Aliyev stated that the purpose of this project is to correctly assess and measure catastrophic and earthquake risks and develop a framework for its correct regulation.
"The project requires us to work closely with other state entities. Because in order to assess earthquake risks, it is necessary to correctly measure earthquake foci and their activity. At the same time, it is important to assess how resistant both residential and non-residential buildings are to possible earthquakes in Azerbaijan. For this purpose, we will work with relevant state institutions within the framework of the project," Aliyev said.