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Azerbaijan establishing Vehicle Recycling Fund

Economy Materials 27 July 2023 15:43 (UTC +04:00)
Ingilab Mammadov
Ingilab Mammadov
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BAKU, Azerbaijan, July 27. President of the Republic of Azerbaijan Ilham Aliyev signed a law on amendments to the country's law "On industrial and household waste", Trend reports.

According to the amendments, in order to stimulate and encourage activities for the recycling of vehicles, the body (institution) determined by the relevant executive authority establishes the Vehicle Recycling Fund.

The Vehicle Recycling Fund is a targeted budgetary fund and is financed from the following independent income sources:

recycling fee;

loans and grants;

voluntary donations by legal entities and individuals;

assignments from international organizations and other donors;

other sources not prohibited by law.

The procedure for the formation and use of funds from the Vehicle Recycling Fund is established by the body determined by the relevant executive authority.

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