After the 44-day “Second Karabakh War” in 2020 in which Azerbaijan took back control over large swathes of territory in an around Karabakh held by Armenian forces for three decades, the leaders of the two countries began to make progress in moving towards a peace accord.

Investment in the construction of a solar plant with a capacity of 230 megawatts is estimated at $225-$240 million.

Uzbekistan signed agreements for millions of U.S. dollars in investments and trade agreements, including $330 million from the EBRD for the privatisation of banks and social infrastructure projects.