According to the order signed by the President of Azerbaijan Ilham Aliyev, the Vehicle Recycling Fund will appear in the republic. The fund will be sponsored from the country's budget.
"In order to finance benefits and one-time payments, as well as to stimulate and encourage measures for the recycling of vehicles, in accordance with Article 14-3 of the Law of the Republic of Azerbaijan "On Waste" and Article 5 of the Law of the Republic of Azerbaijan "On the Budget System", the Republic of Azerbaijan is establishing the "Vehicle Recycling Fund" as part of the state budget,
the order says.
The Head of the republic instructed the Ministry of Finance of Azerbaijan and the Təmiz şəhər Open Joint Stock Company to resolve issues related to the implementation of the Fund's launch.
The document comes into force on February 1, 2024.
