Azerbaijan, Baku, July 24/ Trend, E. Ismayilov/
According to data for July 1, 2013, in total, about 969.5 million manat was allocated by the Azerbaijan's State Oil Fund for the reconstruction of the Samur-Absheron irrigation system, the official website of the fund reported.
"In particular, around 447.87 million manat was allocated for the construction of Takhtakorpu water reservoir and hydroelectric power station. Nearly 366 million manat and 124.2 million manat was allocated for construction of Takhtakorpu-Jeyranbatan and Velvelichay-Takhtakorpu canals relatively," the fund reported.
The remaining resources were allocated to the project group - 2.57 million manat, transferring the oil and gas pipelines - 20 million manat, preparation of the design and budget - 1.8 million manat, construction of a village of 70 houses for refugees - 1.5 million manat, land buying and paying of compensation - 5.2 million manat, the construction of access highways - 0.5 million manat.
The State Oil Fund was established in 1999, and its assets for that time amounted to $271 million. According to data for January 1, 2013, the assets of the Oil Fund amounted to $34,129.4 million.
The main goals of the State Oil Fund include: accumulation of resources and the placement of Fund assets abroad in order to minimize negative effects on economy, the prevention of "Dutch disease", promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.
The official exchange rate for July 24 is 0.7843 AZN/USD.