Central bank to cooperate with Italian microcredit agency – a relevant memo signed


February 25, Fineko/abc.az. The Memorandum of Understanding has been signed between the Central Bank of Azerbaijan and the National Microcredit Agency of Italy.

ABC.AZ reports with reference to the CBA that  the main purpose of the Memo is to encourage cooperation between the parties in the field of exchange of experience in the development of microcredit and microfinance instruments in Azerbaijan.

Under the Memo, the cooperation between the two countries’ organizations is aimed at promoting microcredit tools, developing the legal framework, and improving monitoring and evaluation mechanisms.

At the same time this cooperation will play an important role in increasing the opportunities for exchanging experience with foreign partner organizations in this area in order to develop the sphere of microfinance services and strengthen control over microfinance activities.