Speaking about the oil strategy, which covers 20 years of statehood, Movsumov noted that during this period there were built Baku-Tbilisi-Jeyhan oil pipeline, Baku-Novorossiysk, Baku-Supsa pipeline, etc.
Movsumov said that the Fund was established in 1999 with $ 270 million. Currently, the fund’s assets reached $ 32 billion: “In general, SOFAZ received more than $ 60 billion during all its activity. Half of these funds were used in the implementation of Baku-Tbilisi-Jeyhan oil pipeline, Baku-Tbilisi-Kars railway, improvement of the living conditions of refugees, education of young people in foreign countries and etcâ€.
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