DUSHANBE, February 18, 2011, Asia-Plus — The Project Agreement on Improving Accounting Controls at the National Bank of Tajikistan (NBT) has been signed between the Swiss State Secretariat for Economic Affairs and the International Monetary Fund, the project implementing agency, according to the Swiss Cooperation Office in Tajikistan.
The project that is scheduled for completion towards the end of 2011 aims at strengthening the accounting framework, improving management information and governance of financial reporting and internal controls at NBT.
In view of the weak institutional potential NBT confronted with the urgent need in external expertise in implementing a series of internal reforms that include inter alia improving the reporting system, internal control and audit frameworks. The project has been launched in response to the NBT request for technical assistance in fulfilling these plans.
It is expected that the project will foster better coordination of efforts aimed at building efficient operational environment that will allow the management getting comprehensive information and developing tools of effective oversight of NBT operations in line with international standards and requirements.
The project “Improving Accounting Controls at the National Bank of Tajikistan” is funded by the Government of Switzerland through the State Secretariat for Economic Affairs (SECO). SECO is responsible for economic and trade policy measures within Switzerland’s development cooperation and transition assistance. SECO”s main aims are to integrate partner countries into the global economy and to promote the sustainable economic growth of these countries, thus contributing to poverty reduction. SECO is part of the Federal Department of Economic Affairs (FDEA).
