TRACECA Fund is launching in Azerbaijan

By Fatime Letifova

The work on the European-Caucasus-Asia Transport Corridor (TRACECA) Fund establishment has been started, and the Fund may start operating next year in Azerbaijan, Azernews reports, citing the statement of Rufat Bayramov, Azerbaijan's TRACECA Intergovernmental Commission's national secretary.

According to his speech, work is currently being done as per the foundation's charter.

"This year, the TRACECA Intergovernmental Commission meeting will be held in Iran. We are preparing all the documents before the meeting so that a decision on fund creation can be made at the meeting. The fund can start operating next year," he said.

"All TRACECA countries, international commercial companies, and other interested parties will be invited to the fund. The main goal of creating the fund is to develop TRACECA and implement infrastructure projects when it is necessary," Bayramov added.

It is worth noting that TRACECA is a special project implemented within the technical assistance framework provided by the European Union to the CIS. 8 countries founded the project in May 1993 at the conference held in Brussels, the capital of Belgium.