$4.75 Million Co-Financing MOU to Advance Financial Sector Reforms
On November 25, 2008, USAID Administrator and Director of U.S. Foreign Assistance Henrietta Fore and National Bank of Azerbaijan (NBA) Chairman Elman Rustamov signed a landmark $4.75 million co-financing agreement to strengthen the NBA’s risk-based supervisory oversight, human resource management, and IT systems. USAID will provide $4 million in funding support and the NBA will invest $750,000 in addition to significant in-kind contributions necessary for Financial Sector Stability Program (FSSP) implementation. The FSSP initiative will also expand the National Bank's macro/financial policy analysis capacity.
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| USAID Administrator Henrietta H. Fore and National Bank of Azerbaijan Chairman Elman Rustamov acknowledge signing of $4.75 million agreement. |
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