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IFC completes project to strengthen financial infrastructure in Azerbaijan

​IFC completes project to strengthen financial infrastructure in Azerb

The International Finance Corporation (IFC) is completing the ACAFI Project, which aims to strengthen the financial infrastructure of Central Asia and Azerbaijan.

Report informs citing Baku office of the World Bank (WB) that a conference is going to be held on September 25 in Baku in this regard with participation of IFC Vice President Hans Peter Lankes will participate.

The project commenced in December 2009 with the financial support of the Swiss State Secretariat for Economic Affairs (SECO) and covered four countries – Azerbaijan, Kyrgyzstan, Tajikistan and Uzbekistan.

The project is aimed at the creation of a credit information sharing system, which will help financial authorities make correct and quick credit decisions

Azerbaijan has been in cooperation with IFC since 1995. So far, the IFC has allocated $72 million to Azerbaijan for implementation of 72 projects. Of these, 56 projects were long-term. The IFC has also allocated $80 million for trade support program, $250 million for BTC. 

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