Armed Forces Assistance Fund’s assets raise

2 April 2014 15:21 (UTC+04:00)

By Aynur Jafarova

The funds accumulated in the Azerbaijan Armed Forces Assistance Fund amounted to 53,248, 284 manats, $211,791 and 593 euros by April 1, 2014, the Defense Ministry reported.

The armed forces fund was established under the presidential decree dated August 17, 2002. The goals of the fund are to drive the development of Azerbaijan's armed forces, to strengthen the logistics and improve social security of servicemen.

The manager of the fund is the Azerbaijani president.

The fund, which is based in Azerbaijan's capital Baku, is financed by donations from private individuals and legal entities operating in the country, and revenues which are not prohibited by Azerbaijani laws.

Azerbaijan is bolstering its military power and defense capabilities year-on-year. The Azerbaijani armed forces are powerful and equipped with modern military machinery, always ready to defend the country and capable of fulfilling any task.

The Azerbaijani army is the most powerful in the South Caucasus region.