![The World Bank estimates Capital Markets Modernization Project](https://turan.az/resized/750/500/resize/media/2014/main/020600068237.jpg)
The World Bank estimates Capital Markets Modernization Project
At a February 5 meeting with the chairman of the State Committee for Securities (SCS) Rufat Aslanli World Bank delegation discussed the progress of the work under the contract for consulting services Capital Markets Modernization Project. WB delegation intends to evaluate the work done.
The PR sector of the SCS informed that during the meeting the WB financial sector expert Uzma Khelil announced the completion of her mission and appointment of Johanna Jager to this post. Representatives of the World Bank pointed out that this year is estimated by them as "an important step" of the project "Modernization of the capital markets."
Last week, SCS held an enlarged board meeting dedicated to the implementation of the State Program "Development of Securities Market in AR in 2011-2020" and the project "Modernization of capital markets." The result of it was defining tasks for the effective implementation of the 2014. According to the agreement, the execution of the project was completed in December 2015.
The project Modernization of Capital Markets is counted till the year 2015 and an estimated $ 15.8 million, of which $ 12 million is financed by the World Bank. As of December 31, $ 2,294,000 were used for the implementation of its various components, including improvement and automation of market infrastructure - $ 601.2 thousand, improving and strengthening the legal and regulatory framework - $ 282.9 thousand, promotion of offers - $ 353 6 thousand, improving skills - $ 442 thousand and project management - $ 43.4 thousand. The Azerbaijani government has paid VAT on the project in the amount of $ 302.8 thousand
In the summer of 2012 SSC engaged the company Corporate Solutions (Britain) as a consultant. The company's services were valued at 6.7 million euros. -08D –
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review