Azerbaijan, Baku, 2 April / Trend corr I. Alizade/ The Parliament of Azerbaijan has approved of the agreement envisaging establishment of an International Foundation for Humanitarian Cooperation for financing the arrangements and projects in the field of humanitarian cooperation among the CIS member countries. "The Foundation will be an international non-commercial organization, not aiming for gaining profit," the Chair of Standing Parliamentary Commission of Azerbaijan for Economic Policy Ziyad Samadzade said at the parliamentary meeting on 1 April.
The agreement on establishment of the international foundation for humanitarian cooperation of CIS was signed on 25 May 2006 at the summit of the CIS member countries' Presidents in Dushanbe.
The activities of the Foundation, wages of the executive directorate and staff will be financed by the CIS countries. However, Azerbaijan will not get involved in the financing of Moscow-based Foundation.
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