(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 11
Trend:
Azerpost LLC under the Azerbaijani Ministry of Transport, Communications and High Technologies has begun cooperation with International Finance Corporation (IFC), a member of the World bank Group, the ministry told Trend on June 11.
'The goal of cooperation is to increase the access of the population and in particular, the private sector in remote areas, to the financial services,' the ministry said.
Azerpost and IFC will cooperate in the development of an e-wallet allowing to conduct the electronic financial transactions.
The work is being carried out within the IFC project "Electronic and Digital Financial Services", which is implemented in partnership with the Swiss State Secretariat for Economic Affairs (SECO).
The initiative will allow the population and small entrepreneurs, in particular, those living in rural areas far from the banks' branches to make payments without coming to the banks, and provide them with the digital access to the main banking services. At the same time, this cooperation will open up new opportunities for Azerpost, the report said.
The ministry stressed that thanks to the implementation of the project, Azerpost will take an important step towards ensuring financial inclusion for a big part of the population not covered by banking services.
This initiative also contributes to the diversification of the Azerbaijani economy and an increase in the economic growth, said the ministry.
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