The project provisionally planned to include two dams on the iconic Rioni river, with a potential capacity of over 400 MW.

The foundations of Azerbaijan’s pragmatic foreign policy were laid by late President Heydar Aliyev in the early 1990s and, today, this has become Azerbaijan’s brand, i.e., the so-called “multi-vector” or “balanced” foreign policy strategy.

The funds will be used for projects in water resources management, irrigation, agriculture, urban development, energy, social welfare and health.

On Sunday, Azerbaijan’s Foreign Ministry acknowledged that Armenia had produced long-demanded maps of minefields in at least one key part of formerly Armenian-occupied regions.