Azerbaijan Doubled Development Fund Capital with Kyrgyzstan to $200 Million

Azerbaijan's President Ilham Aliyev signed laws on October 13, 2026, increasing the capital of the Azerbaijan-Kyrgyzstan Development Fund from $100 million to $200 million, as well as a treaty on allied relations between the two states. The documents were published on the official presidential website on October 21.

With this, Azerbaijan completed the legal formalization of agreements reached by Bishkek and Baku on July 31, 2026, in Cholpon-Ata. Kyrgyzstan's Cabinet of Ministers had approved the agreement to increase the fund's capital on September 4.

The fund was established in 2022 with an initial capital of $25 million. In April 2024, the parties agreed to raise it to $100 million, and in July 2026 — to double it again. At the time the decision was made, the fund had approved 11 investment projects with a total value of $76.67 million; another 37 projects worth more than $204 million were at various stages of review. The expanded capital will allow the fund to participate in projects in the energy, industry, housing construction, and healthcare sectors.

One of the recently completed projects is the Orion Grand carpet production factory in the Bishkek free economic zone, opened on October 6, 2026. Its total cost was $3.2 million, of which the fund provided $1 million.

The allied relations treaty includes 21 articles and covers cooperation in foreign policy, security, military-technical cooperation, energy, trade, investment, digital technologies, science, education, and culture.