Supervisory Board of Karabakh Revival Fund: We Will Work on Principles of Transparency, Openness

Supervisory Board of Karabakh Revival Fund: We Will Work on Principles of Transparency, Openness

The first meeting of the Supervisory Board of the Karabakh Revival Fund was held under the chairmanship of the Minister of Economy Mikayil Jabbarov, according to Azerbaijan in Focus, reporting Turan News.

The members of the Supervisory Board stressed the importance of building the Fund’s activities on the principles of transparency and public openness, as well as cooperation with the private sector and civil society, as it was noted in the message following the January 5 meeting.

It was noted at the meeting that, in addition to addressing security issues in the liberated territories, the implementation of measures related to the provision of basic infrastructure and social services began. Construction of roads, rehabilitation of communal infrastructure is underway. “Taking into account the fact that the liberated lands occupy a large area, the economic recovery here will be carried out on the basis of a single conceptual state program based on an integrated approach. In the near future the program will be developed and approved,” the Ministry of Economy said.

It should be noted that the main activity of the Karabakh Revival Fund is aimed at restoring the liberated territories of the Republic of Azerbaijan, turning it into a developed region, creating an environment that will provide a settlement with a decent life. The Foundation will fully support the activities, projects and initiatives of the private sector in the liberated territories. Foreign investors and international donor organizations will be attracted to carry out work to restore the liberated territories.

The state budget for 2021 provides for the allocation of 2.2 billion manats for the implementation of investment projects in the territories liberated from the Armenian occupation.