VTB Bank to participate in distribution of SFDIT’s recourses

The Supervisory Board of the State Fund for Development of Information Technologies (SFDIT) under the Ministry of Communications and Information Technologies of the Republic of Azerbaijan has included VTB Bank in the list of the authorised credit organisations that will take part in the distribution of SFDIT’s recourses.

  In his interview with journalists the head of SFDIT Elchin Zeynalov said that VTB Bank has a wide network of bank brunches, which is very important for the distribution of the fund’s recourses. “Because VTB Bank presented its proposal behind the schedule, the bank’s candidacy was considered with a delay. The bank intends to increase its activity in the IT area. 

It is already holding talks with IT companies and IT experts in this regard. In the course of these negotiations the bank will select the required projects that will be efficiently implemented in this area.” Note that besides VTB Bank, Damir Bank, Bank Respublika, Rabitabank and Pasha Bank will take part in the process of distribution of SFDIT’s recourses. In future, the fund will increase the number of authorised banks, but this number will not exceed 10. 

---