The first meeting of the Supervisory Board of the Karabakh Revival Fund took place – PHOTO

On January 5, the inaugural meeting of the newly established Karabakh Revival Fund's Supervisory Board was held. 

The Ministry of Economy informed AZERTAG's press service that during the meeting held in video format, issues arising from the relevant decrees of the President of the Republic of Azerbaijan were discussed. Initially, members of the Supervisory Board expressed their gratitude to President Ilham Aliyev for the trust placed in them. 

It is noted that the main activity of the Karabakh Revival Fund will be aimed at ensuring the restoration and development of the territories liberated from occupation, turning them into a prosperous region with inhabited areas, adequate living conditions, economic activity, and the return of internally displaced persons to their native lands. To this end, serious tasks have been defined before the Fund by the decree of the President of the country. 

During the meeting, it was emphasized that tasks related to providing initial infrastructure and social services are being carried out alongside addressing security issues in the liberated territories. The government is establishing road infrastructure, and state institutions, particularly local branches of agencies providing communal services, have begun active work in their respective areas. It was emphasized that given the considerable expanse of the liberated lands, a comprehensive approach to economic recovery will be pursued based on a unified conceptual state program. The program is expected to be developed and approved in the short term. 

The Karabakh Revival Fund will provide financial support for the implementation of restoration works, attracting investments and carrying out necessary promotional activities both in Azerbaijan and abroad. The decree of the President of the country has determined the main sources of finance for the Fund. 

Members of the Supervisory Board noted the necessity of establishing the Fund's activities based on principles of transparency, public accountability, as well as collaboration with the private sector and civil society. It was emphasized that the Fund will comprehensively support the activities and initiatives of the private sector in the liberated territories, providing them with all necessary legal and organizational support. Additionally, special attention will be paid to attracting foreign investors and international donor organizations to the process of restoring the liberated territories. 

During the meeting of the Supervisory Board, several organizational and administrative issues were discussed, and relevant decisions were made to complete the necessary legal procedures in a short period for the Fund to commence its full-fledged activities.