Azerbaijan to invest $1.5 billion on the restoration of territories in 2021

Azerbaijan will invest $1.5 billion in 2021 on the restoration of territories that returned to Azerbaijani control following last year’s 44-day Karabakh war. 

Speaking yesterday (4 May) at an online event by the Central Asian Regional Economic Cooperation (CAREC), Azerbaijan’s Minister of the Economy, Mikayil Jabbarov, stated that the rehabilitation of the territories would be funded through a combination of state expenditure and foreign investment. Jabbarov explained that the $1.5 billion dollars was being spent on the territories to “create attractive conditions for investors”.

The Minister noted that in addition to agriculture, the country planned to develop the territories’ tourism and mining industry.

Jabbarov also addressed the prospect of a transport corridor between Azerbaijan and its western exclave, Nakhchivan, which would run through Armenia. He stated that the economic impact of such a project would be "beneficial to all regional countries, including Armenia".


Source: with Trend (Baku)
Photo: Mikayil Jabbarov, Minister of the Economy of Azerbaijan (Archive)