IFC offers Azerbaijan creation of debt counseling centers
By Amina Nazarli
The International Finance Corporation (IFC), a member of the World Bank Group, has offered Azerbaijan to establish debt counseling centers.
Aliya Azimova, IFC’s country representative in Azerbaijan said about this while addressing the 1st annual meeting of the coaches on financial literacy in Azerbaijan on November 23.
"There is a potential in the creation of such centers in Azerbaijan. They can play an important role in preventing the high level of debt, she said further emphasizing that the creation of such mechanisms is a very important task.
IFC’s focus is on supporting the economic competitiveness agenda of the World Bank Group's Country Partnership Framework 2015-2020 for Azerbaijan, strengthening initiatives to increase access to finance for businesses and improve the business environment.
Azerbaijan cooperates with IFC since 1995.
Portfolio of the finance corporation in Azerbaijan exceeded $400 million, and those funds have been allocated for the implementation of more than 70 projects.
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Amina Nazarli is AzerNews’ staff journalist, follow her on
Twitter: @amina_nazarli
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