Agreement on Technical Assistance to Securities Market to Be Signed

September 13, at the State Securities Committee (SSC) they will sign an agreement on technical assistance project of modernization of the capital market. Donations are ready to be provided by the Swiss government.

In the SSC told Turan, that technical assistance will be provided to the two components of the project: updating the legal and regulatory framework and promoting supply of capital.

The above-mentioned project has been prepared within the framework of the State program of development of the securities market in Azerbaijan in 2011-2020.

Loan agreement with the World Bank in the framework of the project "Modernization of the Capital Market" was signed in September 2011. The total cost of the project is $ 15.8 million, including $ 12 million allocated by WB. Swiss Secretariat for Economic Cooperation provided a grant for the project - $ 1.6 million. The share of the Azerbaijani government in the financing of the project is $ 2.2 million.

Currently, the candidate selected as the consultant of the SSC project is considered by the World Bank. - 08D