Azerbaijan invites business to help reconstruct Nagorno-Karabakh
By Fuad Shahbazov, Baku-based independent regional security and defence analyst
Since its victory in the Second Karabakh War with Armenia in 2020, the Azerbaijani government has begun a massive reconstruction of the former war-torn region. Azerbaijan has demonstrated a firm commitment to reconstructing Nagorno-Karabakh, which was largely neglected and left unattended for three decades. According to the Azerbaijani state media, between 2020 and 2023, the authorities have allocated AZN12 billion to Karabakh's reconstruction/rebuilding process and an additional AZN4 billion AZN in 2024. Overall, the state programme dubbed “Great Return” envisions the allocation of AZN30.5 billion from the state budget between 2022 and 2026. Considering the fact that the reconstruction is a lengthy and costly process, at the first stage, Azerbaijan prioritized the reconstruction of larger urban areas such as Aghdam, Lachin, Shusha, Fuzuli, and Zangilan in order to initiate the steady return of former Azerbaijani IDPs, making those areas economically attractive for potential local and foreign investors. READ MORE
| Markets | The Caspian and Central Asia
