Azerbaijani Armed Forces Relief Fund assets exceed 105M manat

By Trend

As of Dec. 1, 2019, assets of Azerbaijani Armed Forces Relief Fund stood at more than 105.1 million manat ($61.8 million), $213,577, 17,566 euros ($19,459) and 5,000 Russian rubles ($77.9), Trend reports referring to Azerbaijan’s Defense Ministry.

The Armed Forces Relief Fund was created by a presidential decree on Aug. 17, 2002.

The fund was established to ensure the development of the Armed Forces at the level of modern requirements, to strengthen the material and technical base and to finance the necessary social measures.

The Fund is formed by voluntary contributions of individuals and legal entities operating in Azerbaijan and other revenues not prohibited by law, according to the decree.