Financial Services Development Project

closed

The Azerbaijan Financial Services Development Project aims 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. There are three project components. (1) A component for Azeri Post to build the financial service capacity in rural areas that are presently undeserved or not served by the banking system and to improve access to basic business infrastructure and for delivery of Government services; (2) a component for the National Bank, to finalize the development of the National Payment System Architecture, including introduction of electronic payment services and management of payment risks, interface with the large billing systems and integration of rural areas; and (3) a project management component. The proposed project would finance investments, technical assistance and training.