The Education Development Fund was established by Decree No. 1399 of the President of the Republic of Azerbaijan dated July 14, 2021.
The Education Development Fund is a public legal entity that finances programs and projects aimed at the development of the education system and supports adaptation to the material and technical base of state educational institutions to modern requirements in the Republic of Azerbaijan.
The Fund is guided in its activities by the Constitution of the Republic of Azerbaijan, the laws of the Republic of Azerbaijan, the Charter of the Fund, other decrees and orders of the President of the Republic of Azerbaijan, other resolutions and orders of the Cabinet of Ministers of the Republic of Azerbaijan, normative legal acts of the Ministry, orders of the Minister of Science and Education of the Republic of Azerbaijan.
While performing its duties and exercising its rights, the Fund interacts with state and local self-government bodies, international and non-governmental organizations, and other legal and private individuals.
According to the Charter approved by the Cabinet of Ministers of the Republic of Azerbaijan, the Fund is engaged in activities of national and public importance.
The capital of the Fund is formed by deductions from extra-budgetary funds of educational institutions under the Ministry (except vocational education institutions), the income obtained from the provision of paid educational services and the activities of the Fund, donations, grants, investments, and other sources not prohibited by law.
The current management of the activities of the Fund is carried out by the Management Board consisting of the chairman, his deputy, and one other member.
Elnur Ramiz oghlu Nasibov is acting as the Chairman of the Board of Education Development Fund by order of the Minister of Science and Education of the Republic of Azerbaijan Emin Amrullayev.
The powers of the founder of The fund are carried out by the Ministry of Science and Education of the Republic of Azerbaijan.