Tashkent, Uzbekistan (UzDaily.com) -- On 8 February 2011, Azerbaijan-Central Asia Financial Markets Infrastructure Advisory Services Project (ACAFI) of the International Finance Corporation (IFC) conducted press-club at the Word Bank Country Office on experience of credit information sharing systems development. ACAFI Project is being implemented in cooperation with the Swiss government through the State Secretariat for Economic Affairs (SECO).

The press-club was attended by mass media representatives of Uzbekistan, Tony Lythgoe and Fabrizio Fraboni - international experts from the IFC Global Credit Bureau Program, and the National institute of credit information of the Central bank of Uzbekistan. The main goal of this event was to familiarize journalists with the current situation and tendencies of the credit information sharing development in Uzbekistan and abroad.

During the press-club, participants discussed the main features of operating of public credit registries and credit bureaus. Special attention was paid to development of necessary legislation in Uzbekistan.

The ACAFI Project is planning to conduct the next press club on credit information sharing system with participation of representatives from banks and credit unions.

Since December 2009, IFC, in partnership with the Swiss government, has been implementing a project to strengthen the financial infrastructure. The project aims to strengthen financial markets infrastructure in Azerbaijan and Central Asia by developing effective credit information sharing and introducing formal risk education and certification for financial institution employees.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record US$18 billion in fiscal 2010.

The State Secretariat for Economic Affairs is the Swiss Confederation's competence center for all the core issues related to economic policy. Its aim is to create basic regulatory and economic policy conditions to enable business to flourish and benefit all. SECO also represents Switzerland in large multilateral trade organizations and international negotiations, and is involved in efforts to reduce poverty and help developing countries with transition economies build sustainable democratic societies and viable market economies. Each year, Switzerland spends about 1.9 billion Swiss francs on development cooperation and transition assistance to countries.