IMF opens Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia
AKIPRESS.COM - The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) is the newest addition to the IMF’s global network of now 17 regional capacity development centers. Following the signing of the Letter of Understanding between the Governor of the National Bank of Kazakhstan Erbolat Dossaev and the IMF Managing Director Kristalina Georgieva on December 14, 2020, the inaugural CCAMTAC steering committee meeting met on January 28 and endorsed the launch of the center starting February 1, 2021, as well as a work program for its first few months of operation.
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Opening of New IMF Regional Capacity Development Center for Caucasus, Central Asia, and Mongolia
Helping countries to strengthen economic institutions and policies is a core function of the IMF through its capacity development services, which account for one-third of IMF activities.
The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) is a collaborative venture between the IMF, member countries (Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan), and development partners.
The Center-to be opened virtually-ahead of its physical launch in Almaty, Kazakhstan, is a major step in deepening the Fund’s engagement to support economic policymaking and institution-building in the region.
IMF to help set up regional capacity development center in Kazakhstan
IMF Managing Director Kristalina Georgieva and National Bank of Kazakhstan Governor Erbolat Dossaev signed a Letter of Understanding (LOU) at a virtual ceremony today toward the establishment of a regional capacity development center in Almaty, Kazakhstan.IMF | Nur-Sultan | Updated: 15-12-2020 09:18 IST | Created: 15-12-2020 09:18 IST
Representative image Image Credit: ANI
The signing of the Letter of Understanding is a key step in establishing the Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) in Almaty, Kazakhstan.
CCAMTAC is a collaborative venture between the IMF and member countries in the region: Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan.