OREANDA-NEWS. February 01, 2011. Under the order of the Cabinet of Ministers of the Republic of Azerbaijan land is allocated in Haydar Aliyev Avenue to construct a new administrative building for the Central Bank. The present administrative building of the Central Bank of Azerbaijan was built and put in commission in 1998. The building that had modern design and infrastructure at that time was designed for 200 employees, reported the press-centre of CBA.

The scale of the country’s economy has grown in the past period, and given the deeper integration of the country into global economy, the widened scope of activity of the bank has necessitated creation of new management and functional infrastructural units. Operations of the Researches and Development Center, Credit Registry Service, launch of departments engaged in Communication and Strategic Management problems are among the examples of new management units in the Central Bank. It is not fortuitous that the number of employees of the Central Bank has increased in the past period and reached 500, the number is expected to go up in future. Therefore, it is necessary to construct a new administrative building of the Central Bank.

Researches were conducted to that end, and a number of well-known companies submitted their concepts reflecting up-to-date technologies for the construction of the administrative building of the CBA, and projects implemented by reputable European architectural companies were studied. As a result of researches, an internationally recognized Austrian company “COOPHIMMELB (l)AU” that implemented the project of the new administrative building for the European Central Bank, was selected for the implementation of the project of the new administrative building of the Central Bank.

The design of the building factors in such criteria as modernity, unique appearance, as well as skyscraper-ness. In light of the rapid increase of demand for cash caused by the growing economy of the country, the project includes creation of the Cash Center meeting international standards. At the same time, beginning of gold mining and forecasts about its future growth necessitate creation of a repository for gold reserves and this issue will also be addressed in the new building.

In light of management and functional development perspectives of the Central Bank for 20-25 years in line with the world practice, the project covers all infrastructures, conference halls, various training rooms, car parking, a library and a museum of the CBA open for citizens.
Currently the new management building is at the designing phase and no final decision has been taken.