Central Bank supports environmental activities

28-04-2025

28 April 2025, Baku: The next tree-planting campaign was held in Mushfigabad settlement within the framework of the Memorandum of Understanding on Cooperation in Tree Planting Activities on the Occasion of the 100th Anniversary of the Birth of National Leader Heydar Aliyev.

Gular Pashayeva, Deputy Governor of the Central Bank, participated in the event. The event was attended by officials of various institutions and associations, as well as about 250 representatives of member organizations of the participating associations.

During the campaign, 625 Eldar pine and olive trees were planted by the participants on an area of ​​1 hectare.

In order to restore the country's forest fund and create greenery, it is planned to plant over 30,000 trees of different species suitable for the local climate on an area of 50 hectares in the settlement of Mushfigabad in the Absheron region and to establish an irrigation system.

To note, the Memorandum was signed on March 13, 2023, between the Ministry of Ecology and Natural Resources, the Central Bank of Azerbaijan, the Association of Banks of Azerbaijan, the Association of Azerbaijan Insurers, the Azerbaijan Microfinance Association, the Association of Azerbaijan Stock Market Participants, and the Azerbaijan Fintech Association. The Memorandum aims to plant a total of 1,000,000 trees, with 100,000 trees planted annually over the next 10 years, starting in 2023.