Postal system modernization in focus
By Vusala Abbasova
A joint project between Azerpocht LLC and the World Bank will modernize Azerbaijan’s postal system.
The project will oversee not only reform at the post office, but also includes provisions to add a wide range of financial services directly available at post offices throughout the country.
The issue of postal system modernization was discussed during a meeting with a delegation led by Rolf Berndt, the Regional Finance and Market Manager for Europe, Middle East and North Africa at the World Bank in the Azerbaijani Ministry of Communications and High Technologies last week.
The Ministry will submit the World Bank’s suggestions on postal system modernization to the government for approval.
Official negotiations with the World Bank will then start after it is agreed upon by the Azerbaijani government.
Earlier, the World Bank and the State Secretariat for Economic Affairs (SECO) suggested implementing a new project that within three basic stages would upgrade operations and support the financial stability of the postal operator.
The first stage involves corporate restructuring as well as the inclusion of a modern financial transactions and services development.
The second stage involves rebranding, optimization, and technological development.
And the third stage involves opening a pilot credit line to support small and medium businesses.
Currently, Azerpocht LLC has implemented the second stage of the pilot project, on rebranding, at seven post offices in Shirvan.
The pilot project is planned to be applied at other LLC branches to expand the postal operator’s cooperation with enterprises and institutions in Azerbaijan.
The Project of Financial Services Development signed between Azerbaijan and the International Development Association (IDA) in 2005-2010, which was carried out with World Bank financing, had also been discussed at the meeting.
The sides stressed the successful results of the project, which provided financial services development, free access to financial services in rural areas and regional centers, and a wide range of services to customers through 1,200 post offices.
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