BAKU, Azerbaijan, June 17. Islamic Development Bank (IsDB) Group supports investment and trade development in the member countries, IsDB Group Chairman, Mohammed Sulaiman Al Jasser, said at the opening ceremony of Private Sector Forum 2026 in the second day of the Annual Meeting of the IsDB Group in Baku, Trend's correspondent reports from the event.
He expressed his gratitude to the government and people of Azerbaijan for the warm hospitality extended to the Islamic Development Bank Group Annual Meetings for 2026 and for the excellent organization of the event.
"On this occasion, I would also like to express my gratitude to the Ministry of Economy and AZPROMO for their valuable partnership, close cooperation, and tireless efforts to successfully hold the Private Sector Forum," he stressed.
Al Jasser noted that the Private Sector Forum is not just an annual event, but a vibrant platform where dialogue turns into concrete directions, ideas into investments, and partnerships turn from promises into real action.
"This is a place where governments and markets, entrepreneurs and financial institutions, ambitions and opportunities come together. As the IsDB Group, we believe that inclusive economic growth is ensured not only by politics, but also by entrepreneurship, not only by state efforts, but also by private initiatives, not only by financing, but also by trust and partnerships," he said.
The head of the IsDB Group emphasized that the relevant organizations of the organization continue their activities in the direction of mobilizing investments, promoting trade, and strengthening economic stability in member countries.
According to him, the institutions included in the IDB Group contribute to the transformation of potential into real development by providing tools for financing, risk reduction, insurance, and trade facilitation.
Al Jasser said that since its inception in 1994, the Islamic Corporation for Investment and Export Credit Insurance (ICIEC) has insured more than $139 billion in trade and investment flows in 51 member countries. Of this amount, about $57 billion accounts for transactions between the member countries.
"In 2025 alone, ICIEC expanded access to financial resources for nearly 6,000 small and medium-sized enterprises, contributed to supporting more than 294,000 jobs, and facilitated the provision of essential goods and services worth nearly $890 million in food security, energy, health, and other strategic areas," he added.
He noted that since its inception, the Islamic Corporation for the Development of the Private Sector (ICD) has financed more than 450 projects in 41 countries, with approved financing exceeding $7.1 billion.
"These projects have supported the main pillars of economic diversification and sustainable development, covering financial institutions, small and medium-sized enterprises, industry, mining, energy, and transport sectors," Al-Jasir stressed.
The chairman of the IsDB Group added that the International Islamic Trade Finance Corporation (ITFC) has provided trade finance worth about $20 billion since its inception.
"A significant portion of these funds has been channeled to support small and medium-sized enterprises through local and regional banks. The corporation has also implemented technical assistance programs to strengthen export potential and deepen trade among member countries," he added.
