One day after the visit of President of the Republic of Azerbaijan Ilham Aliyev to the Nakhchivan Autonomous Republic, a decree was signed allocating 258 million manat ($151.8 million) to accelerate the region’s socioeconomic development. This decision marks another important step in the consistent state policy aimed at the development of Nakhchivan. The allocated funds will be used to finance projects implemented under existing state programs, including the State Program for the Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023–2027. The continued construction of a 15.6-MW hydroelectric power plant will increase Nakhchivan’s energy capacity and make a significant contribution to the implementation of Azerbaijan’s green energy policy. Plans are in place to build a 1,000-bed student dormitory at Nakhchivan State University and five new kindergartens with a total capacity of 640 children.