BAKU, Azerbaijan, September 23. The State Oil Fund of Azerbaijan (SOFAZ) has transferred more than $140 billion to the state budget since its establishment, Deputy CEO of SOFAZ Rovshan Javadov said on the second day of the 1st Azerbaijan International Investment Forum held in Baku today, Trend reports.
According to him, SOFAZ's activities include the Kars railway, the Baku–Tbilisi–Ceyhan pipeline, major irrigation projects, housing construction, educational programs for internally displaced persons, and other initiatives.
"The fund is one of the most transparent in the world and currently manages assets worth over $60 billion," Javadov noted.
He added that the fund collaborates with leading international financial institutions such as BlackRock and Blackstone, creating opportunities for knowledge and technology transfer, as well as joint investments in the country's economy.
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