(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 28. A working group
to finalize documents regulating the status and activities of the
TRACECA Fund started its work in the format of a web conference on
September 27, 2023, Trend reports.
According to TRACECA, the establishment of the fund is an
effective mechanism that will attract funds that will be used
exclusively in the interests of the parties and on their
territory.
The participants of the meeting from Azerbaijan, Georgia, Iran,
Kazakhstan, Kyrgyzstan, Moldova, Romania, Türkiye, Ukraine, and
Uzbekistan considered proposals to finalize the text of the Rules
of Operation of the TRACECA Fund.
During the conference, a number of countries made proposals to
finalize the text of the rules regarding governance mechanisms,
financing procedures, audit issues, and the termination of the
fund.
In addition, the working group considered the proposals defining
the terms of consideration of applications for project financing,
the expediency of determining the maximum thresholds of financing,
the conditions of project implementation, as well as co-financing
mechanisms with partial allocation of TRACECA Fund resources.
Based on the results of the discussions, the Permanent
Secretariat will continue to finalize the text of the Rules of
Procedure of the Fund, taking into account the agreements reached
and positions voiced.
The TRACECA corridor participates in the gradually developing
trends of trade and economic development. The main transport flows
passing through the corridor are formed, on the one hand, in
Western and Central Europe and, on the other hand, in Central and
Southeast Asia.
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