WB to provide technical assistance to Azeri Bank

In an effort to boost the liquidity of the Universal Joint Stock Bank (UJSB), the Ministry of Finance allocated AZM52 billion from the state budget to it in February, chairman of the Bank’s Board of Directors Zakir Zeynalov told journalists Friday.

AZM31 billion more will be allocated before the end of 2001, he said.

According to him, the Bank is also in talks with the World Bank. On the first stage, WB is to provide $1.7 million in technical assistance before the end of 2001.*