"Friends of Karabakh Revival Fund” Business Platform

On November 25, a meeting was held between the Special Representative of President of the Republic of Azerbaijan in Zangilan region, which is part of the East Zangezur economic region Vahid Hajiyev, the donors and partners of the Karabakh Revival Fund (KRF), including leading companies and representatives of the public.

During the meeting, which focused on the "Sustainable development and reintegration of liberated territories" theme, discussions were held on the role of business in the reconstruction and development process of Karabakh, the development of cooperation between business, society, state structures in this area, and other relevant topics.

In the Zangilan district, the special representative of the President of the Republic of Azerbaijan, Vahid Hajiyev, stated that restoration and construction works in the liberated territories are being rapidly continued. He mentioned that large-scale projects are being implemented in those areas.

"The liberated territories are undergoing extensive restoration and construction works, including large-scale infrastructure projects. One of these projects is the Zangilan International Airport, which was recently inaugurated with a grand ceremony on the day of Zangilan's liberation by the President and the President of the Republic of Turkey. This is not only a significant event for Zangilan but also for the entire region.

As part of the “Great Return” project, 326 people have already been resettled in the village of Agali. Conditions are being created for the resettled population, infrastructure facilities are being built through state institutions, and various projects and events are being implemented. Their employment issues are being addressed. Currently, work is underway to accommodate small entrepreneurs in the area of Agali village.

Furthermore, the construction of four hydroelectric power stations continues in the Zangilan district. It is expected that the construction of the Horadiz-Aghbend railway will be completed by the end of next year."

Vahid Hajiyev also discussed the plans envisaged for the liberated territories:

"If we look at all of East Zangezur and Karabakh, it is possible to implement projects in five directions: mining-industry, agriculture, logistics, tourism, and green energy. Zangilan will bring significant contributions to Azerbaijan's economy. We are talking about both agriculture, natural resources, logistics and tourism, as well as green energy."

Rahman Hajiyev, the Chairman of the Executive Board of the Karabakh Revival Fund, made a presentation, providing the participants of the meeting with detailed information about the main directions of the Fund's activities, the work done so far and the planned projects.

Rahman Hajiyev, when speaking about the landscape we faced after the liberation of our lands, emphasized that the victory achieved by our valiant army under the leadership of the Supreme Commander-in-Chief Ilham Aliyev in the Patriotic War not only liberated our territories from enemy occupation but also created a new reality in strengthening unity and solidarity in our country.

"The liberation of the territories not only revealed the extent of the humanitarian catastrophe but also highlighted how extensive the destruction was in Karabakh, with hundreds of residential areas and thousands of buildings completely demolished by Armenian occupiers, causing significant damage to the region's ecology. Therefore, it is imperative to demonstrate solidarity to quickly mitigate the consequences of this damage and transform Karabakh into a prosperous region. Collaborative efforts will not only lighten the burden on the state in the reconstruction process but also accelerate the recovery and revitalization efforts."

According to the Chairman of the Executive Board, transparency and competitiveness principles are of particular importance in projects implemented at the expense of state funds (including KRF's financial support) in the liberated territories. Therefore, the selection of contractors for all implemented projects is carried out in accordance with the relevant procurement legislation. At the same time, various open tender mechanisms are created to facilitate the unhindered activities of local and foreign investors in these areas.

The President also noted that the unique financial support provided by the Fund is allocated in the form of grants, all of which are provided in accordance with the Law on Grants and other relevant legislative acts of the Republic of Azerbaijan. To reduce internal risks of the Fund, several specific mechanisms are envisaged in the Rules for Granting Grants approved by the Supervisory Board (including the establishment of a Grant Commission, verification of documents by different departments to ensure the credibility of the applicant, stability of financial conditions, integrity in combating corruption, examination of positive business influence, etc.).

Rahman Hajiyev mentioned that the principles of corporate governance and transparency form the basis of the Fund's activities, which is also confirmed by the results of the audit conducted by "PwC Azerbaijan" company.

Subsequently, Rahman Hajiyev provided detailed information to the participants of the meeting about the projects implemented with the financial support of the Fund and the results of the financial audit conducted by PwC company.

After the speeches, "Caspian Event Organisers" company was presented with a "Certificate of Appreciation" by Rahman Hajiyev the Chairman of the Executive Board of the Karabakh Revival Fund, for their support of the reconstruction and restoration efforts in Karabakh.

Following the presentation, discussions continued. During the discussions, the role of companies in the restoration and  construction of Karabakh was discussed, and there was an exchange of ideas around the proposals put forward.