BAKU, Azerbaijan, June 19. IsDB Group's investments in Azerbaijan have reached $1.8 billion, Minister of Economy Mikayil Jabbarov said at a press conference dedicated to the results of the IsDB Group's 2026 Annual Meetings held in Baku, Trend's correspondent reports from the event
"The group has financed 84 operations worth about $1.8 billion in Azerbaijan, covering various sectors, including energy, infrastructure, agriculture, water resources, transport, and financial services," he explained.
In his speech, the minister noted that the awarding of Azerbaijan's "Dostlug" Order is an indicator of the importance the country attaches to international partnership at the highest level. According to him, the IsDB Group was one of the first international institutions to support Azerbaijan from the early years of its independence, and this partnership has now entered a more transformative phase.
"Azerbaijan has been a member of the bank since 1992, and over the past period, the IsDB Group has financed 84 operations in the country worth approximately $1.8 billion, covering various sectors, including energy, infrastructure, agriculture, water resources, transport, and financial services. The majority of the projects have already been completed, and currently, 11 projects with a total value of approximately $640 million are under implementation," he pointed out.
The minister added that Azerbaijan's position in the bank's shareholder structure has also been strengthened, and the country's capital share has increased from the initial 0.1 percent to 1 percent.
According to him, the country partnership strategy between Azerbaijan and the IsDB Group covering 2027–2031 is aligned with "Azerbaijan 2030: National Priorities for Socio-Economic Development" and the bank's 10-year strategic framework covering 2026–2035.
"Within this framework, economic diversification, investment in human capital, development of green and sustainable infrastructure, as well as expansion of regional connections will be the main priorities in the coming years," he announced.
Jabbarov also informed that work is underway on new projects in areas such as water supply and water purification, railways, agriculture (especially liberated territories), and the Alat Free Economic Zone.
The Minister said that the Karabakh Main Irrigation Canal, financed by the IsDB Group, is of particular importance in terms of improving water management and increasing agricultural productivity in the Jabrayil and Fuzuli districts.
He also highly appreciated the role played by the IsDB Group leadership in reconnecting Azerbaijan with the Arab Coordination Group, and emphasized that within the framework of this cooperation, a multi-billion dollar project portfolio was being advanced with partners, including the OPEC Fund for International Development, the Kuwait Fund for Arab Economic Development, and the Abu Dhabi Fund for Development.
At the end of his speech, Jabbarov said that Azerbaijan is interested in expanding cooperation with the Islamic Development Bank both within the country and in third countries, especially with a focus on the least developed countries, in accordance with the vision and priorities of the bank's leadership.
