SOFAR EXECUTIVE DIRECTOR HELD A NUMBER OF MEETINGS IN USA
At meetings, he has in detail told about the history of creation, structure, incomes, strategic planning, management of means of the Oil Fund and its charges. Incomes of Oil Fund will be fairly distributed as among the present and the future generations of Azerbaijan, Mr. Sharifov said.
Executive director of the Fund has reminded that in view of necessity for development of the country’s infrastructure and according to the Decree of the President of Azerbaijan “On approval of the long-term strategy on management of incomes of oil and gas” the government of republic uses the certain part of oil incomes for realization of investment projects. In forthcoming some years from Oil Fund also will be allocated means for construction and restoration of the main roads, schools and hospitals, purchase of the electro-power equipment, other projects representing value for development of the country.
Executive director has reminded that in the portfolio of charges of the Fund also enters the project on improvement of social and economic conditions of refugees and IDPs. Informing present also about a portfolio « Stabilization and extreme situations » Fund, S.Sharifov informed, that in these frameworks the direction of charges on liquidation of accidents or unexpected situations in a financial position of the country is provided. Other portfolio of charges called « the Investment portfolio », will serve preservation of oil incomes for the future generations and to play a role of sources of the income for Fund.
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