Baku, Azerbaijan, Oct. 8
By Mirsaid Ibrahimzade - Trend:
In 2019, the State Oil Fund of Azerbaijan (SOFAZ) spent 74.9 million manat ($44.1 million) to finance its only project in 2019, which is aimed at improving social and living conditions of refugees and forced immigrants, a source in SOFAZ told Trend.
The expected amount for the end of 2019, budgeted in SOFAZ for these purposes, is 200 million manat ($117.890 million).
The source noted that the first expenses of the Fund were allocated to finance this project and, beginning from 2001, $2.595 billion was allocated to finance this project.
In particular, through the allocated funds, 71 settlements were built in various Azerbaijani regions, with all necessary communal conditions including residential buildings, schools, kindergartens, hospitals, cultural centers, electrical substations, communication centers, gas and water pipelines.
Moreover, the poverty level in these groups decreased from 75 percent in 2003 to 12 percent, and continues to decline.