12:17 - 1.06.2023

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June 1, Fineko/abc.az. The Vehicle Recycling Fund will be established by a body (organization) determined by the relevant executive authority in Azerbaijan in order to finance benefits and lump-sum payments, as well as to stimulate and encourage measures for the disposal of vehicles.

ABC.AZ reports that this is reflected in the proposed amendment to the Law on Industrial & Household Waste, which was discussed at a joint meeting of the Milli Majlis Committees on Natural Resources, Energy & Ecology, Economic Policy, Industry & Entrepreneurship.

If the law is adopted, the article on the creation of the Fund will be effective from February 1, 2024.

The vehicle recycling fund is a target budget fund and is financed by independent sources of income, in particular, recycling fees, loans and grants, voluntary donations from legal entities and individuals, contributions from international organizations and other donors.