The first meeting of the Supervisory Board of the newly established Karabakh Revival Foundation was held on January 5. The issues arising from the relevant decrees of the President of the Republic of Azerbaijan were discussed at the meeting held in video format.

First, the members of the Supervisory Board thanked President Ilham Aliyev for the trust placed in them. It was noted that the main activity of the Karabakh Revival Foundation will be aimed at restoring and rebuilding the liberated territories of the Republic of Azerbaijan, transforming it into a developed region, establishing an environment that will ensure settlement and return of IDPs to their lands, decent living and economic activity. For this purpose, by the Decree of the President of the country, serious tasks have been set before the Foundation.

It was noted at the meeting that, in addition to addressing security issues in the liberated territories, the implementation of measures related to the provision of basic infrastructure and social services are being fulfilled. Construction of roads, rehabilitation of communal infrastructure and  other government agencies is underway. Taking into the account that the liberated lands occupy a large area, the economic recovery will be carried out on the basis of a single conceptual state program based on a multifaceted approach. The program is expected to be developed and approved shortly.

The Karabakh Revival Foundation will provide all the necessary support to finance reconstruction work, attract investments, as well as conduct the necessary fundraising campaigns in Azerbaijan and abroad. The main sources of funding for the Foundation are determined by the relevant decree of the President of the country.

The members of the Supervisory Board stressed the importance of building the Fund's activities on the principles of transparency and public openness, as well as cooperation with the private sector and civil society. It was noted that the Foundation will fully support the activities, projects and initiatives of the private sector in the liberated territories, and will provide them with all necessary legal and organizational support. At the same time, special attention will be paid to the involvement of foreign investors and international donor organizations in the process of restoration of the liberated territories.

A number of organizational and administrative issues were also discussed at the meeting of the Supervisory Board, and relevant decisions were made to complete the legal procedures necessary for the full operation of the Foundation as soon as possible.