IFAS was established in 1993 by the Heads of State of Central Asia in order to overcome the environmental crisis and improve the socio-economic situation in the Aral Sea basin, recognized by the world community as one of the largest disasters of the 20th century. In 1993, the heads of states of Central Asia created the International Fund for Saving the Aral Sea (IFAS) and approved the Regulations on IFAS.
In February 1997, the Heads of State adopted a basic management scheme for IFAS, according to which IFAS includes the Audit Commission, the Board, the Executive Committee, ICSD, and ICWC.
The main tasks of IFAS are:
– financing and lending to joint interstate environmental and scientific-practical programs and projects aimed at saving the Aral Sea and improving the environmental situation in areas affected by the Aral catastrophe, as well as solving the social and ecological problems of the region;
-financing of joint fundamental and applied research, scientific and technical developments to restore the ecological balance, rational use of natural resources, and environmental protection;
-creation and maintenance of the functioning of an interstate ecological monitoring system, a data bank, and other systems on the state of the natural environment of the Aral Sea basin;
-mobilization of funds for joint activities to protect the air basin, water, and land resources, flora and fauna;
-financing of joint scientific and technical projects and developments on the management of transboundary inland waters;
-participation in the implementation of international programs and projects to save the Aral Sea and the ecological improvement of the Aral Sea basin.