ID :
72040
Fri, 07/24/2009 - 18:05
Auther :
Shortlink :
https://oananews.org//node/72040
The shortlink copeid
EXECUTION OF FINANCIAL SERVICES DEVELOPMENT PROJECT IN AZERBAIJAN TO BE COMPLETED THIS YEAR
Baku, July 24 (AzerTAc). The World Bank and Azerbaijan`s Government will complete implementation of the Financial Services Development (FSD) project till the end of the current year, according to the ministry of communications and information technologies.
The FSD project is designed to strengthen the basic postal infrastructure and management systems and extend modern communication services (telephones, fax, e-mail, Internet) along with e-government and e-commerce applications through the postal network.
Under the project most of the country’s postal unions have been equipped with highest technologies and provided with special vehicles so far.
In 2005 the World Bank and the Government of Azerbaijan signed the Development Credit Agreement for the Financial Services Development Project (FSDP) which was approved by the WB Board of Directors on January 6, 2005.
Project is designed to provide $12.25 million which is supposed to facilitate the implementation of the country’s Poverty Reduction Strategy and economic reform programs related to regional development and development of the non-oil sector through improvements of the access of the rural population to financial services and improvements in the financial architecture. The project’s first component Azeri Post Platform is supposed to build the financial service capacity in rural areas that are presently underserved or not served by the banking system and to improve access to basic business infrastructure and for delivery of Government services. The second component, National Payment System Architecture Component, is meant to finalize the development of the National Payment System Architecture, including introduction of electronic payment risks, interface with the large billing systems and integration of rural areas.
The FSD project is designed to strengthen the basic postal infrastructure and management systems and extend modern communication services (telephones, fax, e-mail, Internet) along with e-government and e-commerce applications through the postal network.
Under the project most of the country’s postal unions have been equipped with highest technologies and provided with special vehicles so far.
In 2005 the World Bank and the Government of Azerbaijan signed the Development Credit Agreement for the Financial Services Development Project (FSDP) which was approved by the WB Board of Directors on January 6, 2005.
Project is designed to provide $12.25 million which is supposed to facilitate the implementation of the country’s Poverty Reduction Strategy and economic reform programs related to regional development and development of the non-oil sector through improvements of the access of the rural population to financial services and improvements in the financial architecture. The project’s first component Azeri Post Platform is supposed to build the financial service capacity in rural areas that are presently underserved or not served by the banking system and to improve access to basic business infrastructure and for delivery of Government services. The second component, National Payment System Architecture Component, is meant to finalize the development of the National Payment System Architecture, including introduction of electronic payment risks, interface with the large billing systems and integration of rural areas.
