Baku, Azerbaijan, May 3
By Anvar Mammadov - Trend:
The supervisory board of the State Oil Fund of Azerbaijan (SOFAZ) has approved the fund's 2015 annual report and auditor's (PricewaterhouseCoopers) report submitted by the executive director of the fund, SOFAZ said in a message May 3.
The supervisory board has recommended SOFAZ's 2015 budget execution project for the approval by the president of Azerbaijan.
SOFAZ was established in 1999 with assets of $271 million.
Based on SOFAZ's regulations, its funds may be used for the construction and reconstruction of strategically important infrastructure facilities, as well as solving important national problems.