BAKU, Azerbaijan, June 19. The Islamic Development Bank Group (IsDB) intends to deepen cooperation with Azerbaijan and support the implementation of the country's national priorities, Chairman of IsDB Group Muhammad Al Jasser said at the closing press conference held as part of the 14th IsDB Private Sector Forum, Trend's correspondent reports from the event.
According to him, Baku has become not only a venue for annual meetings but also a place where discussions have been furthered in practice.
"Since 1992, Azerbaijan and the IsDB Group have built a long-term partnership in infrastructure, energy, agriculture, social services, and regional connectivity. During the current annual meetings, a number of documents were signed, opening a new stage of cooperation. In particular, the parties signed an agreement on the Karabakh Irrigation Canal reconstruction project worth $436 million, as well as a memorandum of understanding on a comprehensive framework program for cooperation with the country," he said.
According to the chairman, another memorandum of understanding was also signed on the construction of water supply and sewerage systems in 33 settlements on the Absheron peninsula.
"We look forward to deepening our cooperation with Azerbaijan, supporting its national priorities, and strengthening its growing role as a vital bridge connecting regions, markets, and people. The theme of these annual meetings, 'Regional Integration for Sustainable Prosperity,' formed the basis for the discussions and decisions made. Over the course of the week, 32 high-level meetings and knowledge-sharing events were held, including events within the framework of the Private Sector Forum. We welcomed more than 4,400 participants from 78 countries, as well as representatives of numerous regional and international organizations, including 46 heads of various institutions," he noted.
Al Jasser pointed out that the participants discussed issues of trade, transport connectivity, energy, food security, Islamic finance, private sector development, the climate agenda, and digital transformation.
He also reported that 67 agreements totaling $6 billion were signed during the annual meetings, involving 10 member countries, regional institutions, and private sector companies.
"These agreements are aimed at supporting key sectors and reaffirm our commitment to implementing projects with high development impact. The Islamic Development Bank has approved new financing totaling $2.8 billion for nine projects in member countries. The projects are aimed at developing transport connectivity, strengthening energy security, improving food systems, enhancing climate resilience, and achieving the Sustainable Development Goals," Al Jasser added.
