Under the decree, the “Charter of the Karabakh Revival Fund” and the “Structure of the Karabakh Revival Fund” have been approved, AzVision.az reports.

It was determined that the authorized fund of the Karabakh Revival Fund is one million manat and is formed at the expense of the state budget.

The Cabinet of Ministers has been instructed to fulfill issues arising from the presidential decree.

On January 4, President Ilham Aliyev signed a decree on the establishment of the Karabakh Revival Fund public legal entity.

Under the decree, the Karabakh Revival Fund public legal entity has been set up in order to ensure a modern and decent living conditions in the liberated territories, to carry out construction, restoration and landscaping work in all areas, as well as to support continuous improvement of safe living, efficient activities and prosperity.

The Fund, established as a public legal entity, shall provide financial support and attract investment to the activities towards the restoration and reconstruction of the liberated territories of Azerbaijan, transformation of this region into a sustainable economy and a prosperous region, while ensuring the development of public-private partnership in this area, as well as carrying out necessary awareness campaigns at home and abroad.

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