BAKU, AZERBAIJAN - (August 22, 2203) Earlier today, the U.S. Trade and Development Agency (USTDA) awarded a $271,670 grant to the University of Construction and Architecture in Baku to partially fund a feasibility study on the establishment of an American-style Master of Business Administration (MBA) program in Azerbaijan. Ms. Nancy McEldowney, Chargé d'Affaires at the U.S. Embassy in Azerbaijan, signed an agreement conferring the grant on behalf of the U.S. Government. Ms. Gulchohra Mamedova, President of Azerbaijan University of Architecture and Construction, signed on behalf of the Grantee.

Azerbaijan has put the utilization of its enormous hydrocarbon reserves at the center of its economic development strategy. Several oil and gas contracts, which require the use of local personnel, have been awarded to major western companies. As a result, there is need to hire competent managers in Azerbaijan who understand western modes of conducting business. Currently, there is no local supply of individuals with the required education to draw from in filling these positions.

The USTDA-funded study will determine if it is feasible to establish an English-language MBA program in Baku with curriculum and standards comparable to programs in the United States. Specifically, the study will ascertain whether the financial and political risks in Azerbaijan are manageable, and how the program could best be constructed and managed. The University of Kansas will conduct the study and contribute resources toward its completion.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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