ESPOO, Finland, March 25, 2002 (PRIMEZONE) -- TietoEnator Banking & Finance has been granted a contract from the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to conduct a market study to asses the feasibility for developing a card payment system in Uzbekistan. This Technical Assistance assignment, which will be financed by the Finnish Government through an IFC's Trust Fund, constitutes the first contract between the World Bank Group and TietoEnator.
TietoEnator has earlier participated in similar card and payment centre projects in Latvia, Lithuania, Belarus and Yugoslavia. The company has also been a system supplier in these projects. The Uzbekistan study is expected to take about six months. It will be conducted by three consultants from Finland and Latvia, all experts in payment systems area.
IFC's mission (www.ifc.org) is to promote sustainable private sector investment in developing countries, helping to reduce poverty and improve people's lives. IFC finances private sector investments in the developing world, mobilizes capital in the international financial markets, and provides technical assistance and advice to governments and businesses.
With almost 11,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com
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