Financing of projects realized on account of SOFAZ maybe increased

Number of projects financed on the account of the State Oil Fund of Azerbaijan in 2011 will not be increased, said executive director of SOFAZ Shahmar Movsumov.

To him, the financing of projects approved at the beginning of the year will continue. At the same time, it is possible to increase the financing of some projects, including improving the living standards of families of refugees and internally displaced persons, rehabilitation of Samur-Absheron irrigation system and construction of the Baku-Tbilisi-Kars railway.

Movsumov also added that, at present there is another major project, whci is financed by the Fund and it is associated with the training of the Azerbaijani youth abroad. About 1000 students are trained overseas under this project. Of these, 200 are expected to return back: "We hope that this will spur the growth of the country’s workforce, human resources. There is need for increase of human resources in Azerbaijan".


/APA/