Azerbaijani media reports that On September 13, in Baku, governments of Azerbaijan and Switzerland signed an agreement on “technical support of the modernization of the capital market of Azerbaijan”.
As reported, the document was signed by Chairman of the State Securities Committee (SSC), Rufat Aslanli and Swiss Ambassador to Azerbaijan, Sabine Ulman Shaban.
According to the agreement, the Swiss State Secretariat for Economic Affairs (SECO) will give Azerbaijan a grant of $ 1.6million.
Technical assistance will be rendered on two components of the project: renewing and strengthening the legal and regulatory framework and developing new financial tools of promoting supply on the market.
‘The capital market modernization project will ensure the necessary technical and organizational support for the implementation of the state program of development of the securities market in 2011-2020’, the statement said.