Bank Lending to Karabakh and Eastern Zangezur Surges Past 611M Manats

Total bank lending to the Karabakh and Eastern Zangezur economic regions reached 611.145 million manats as of August 1, 2026, marking a 17% (88.7 million manats) year-on-year increase.

According to data from the Central Bank of Azerbaijan, credit investments in the Karabakh economic region rose 13% (66.5 million manats) annually to 576.016 million manats, with an average interest rate of 19.73%. Of this amount, 575.830 million manats were allocated in national currency and 186,000 manats in freely convertible currency.

In the Eastern Zangezur economic region, bank loans expanded 2.7-fold (22.2 million manats) year-on-year to 35.129 million manats, carrying an average interest rate of 13.62%. Out of this volume, 26.280 million manats were disbursed in local currency and 8.849 million manats in foreign currency.

Nationwide, overall bank lending across all regions of Azerbaijan reached 32.095 billion manats as of August 1, 2026, expanding by 12.6% (3.6 billion manats) compared to the same period in 2025.

The upward trajectory in regional credit allocation is supported by extensive reconstruction programs, expanding transport, energy, and residential infrastructure, and accelerating business activity across the liberated territories.