Fund for Revival of Karabakh Established

Baku / 04.01.20 / Turan: On January 4, the head of state Ilham Aliyev issued a decree on the creation of a public legal entity Karabakh Revival Fund.

The official report says that the Fund will provide financial support for the restoration of the liberated territories, attraction of investments and development of the private sector.

The work of the Fund will be managed by the Supervisory Board and the Board of three people - the chairman and two deputy chairmen.

The funds of the Fund will be formed at the expense of donations from individuals and legal entities; grants and other sources.

The presidential administration was instructed to submit the draft charter of the Fund to the head of state within 15 days.

The Cabinet of Ministers has been instructed to register the Fund and provide it with a building. The Ministry of Finance has been instructed to resolve funding issues.

Recall that earlier, the head of state approved the composition of the Fund's Supervisory Board, which included the Ministers of Economy and Ecology, the head of the State Committee for Refugees, the head of the Nagorno-Karabakh community, deputies of the Milli Majlis, rectors of the Academy of Music and the Azerbaijan Economic University, and the University of Languages.     -02D-