BAKU, Azerbaijan, May 7. The Islamic Development Bank (IsDB) Group and Azerbaijan are expected to sign a memorandum of understanding on the Member Country Partnership Strategy for 2027-2031 in June, Chairman of the IsDB Group Dr. Muhammad Sulaiman Al Jasser said in an exclusive interview with Trend, as he visited Azerbaijan.
“We look forward to having a Member Country Partnership Strategy for 2027-2031, which coincides with the development plan of Azerbaijan. We will be going step by step together towards achieving the aspirations of economic development in Azerbaijan,” he said.
The IsDB Group chairman said that the document is already under development.
“We hope to sign a memorandum of understanding on it in June. The firing power of the economy will be enhanced significantly by that. Without this development mechanism and other development institutions, some projects may be delayed. But with the prudent economic management you have, you can borrow from institutions like ours, and not wait too long before you develop these projects that are very important for the economy's future. Debt in this country is still relatively low, but the borrowing is all for productive investments. The impact on the economy is always positive, it will have higher multiplier effects for the economy, ensure higher growth, and better jobs for the citizens,” Al Jasser added.
