A delegation of Azerbaijan led by Israfil Mammadov, Chief Executive Officer of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), participated in the 18th Annual Meeting of the International Forum of Sovereign Wealth Funds (IFSWF) held on November 11–13 in Athens, the capital of Greece.

Axar.az reports that members of the International Forum of Sovereign Wealth Funds (IFSWF) have elected the State Oil Fund of the Republic of Azerbaijan (SOFAZ) to host the Forum’s 20th Annual Meeting in Baku in 2028. The decision was taken at the IFSWF Annual General Meeting.

The decision reflects the trust placed in SOFAZ and Azerbaijan by fellow members and SOFAZ’s longstanding and active engagement within the international community of sovereign investors.

The 2028 Annual Meeting will coincide with the twentieth anniversary of the Santiago Principles. Agreed in 2008 by sovereign wealth funds from 26 countries, with the support of the International Monetary Fund, the 24 Generally Accepted Principles and Practices established a common framework for the governance, accountability and investment practices of sovereign wealth funds. Over the past two decades, they have played an important role in building trust between sovereign investors and the countries in which they invest.

Established in 2009 to promote the implementation of the Santiago Principles, the IFSWF brings together approximately 50 sovereign wealth funds with combined assets of nearly USD 10 trillion. The Forum serves as a leading international platform for dialogue, research and the exchange of best practices among sovereign investors. As a founding member of the IFSWF, SOFAZ has been actively involved in the Forum’s work since the development of the Santiago Principles.