BAKU, Azerbaijan, June 19. The results of the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group have been announced, Minister of Economy of Azerbaijan, Mikayil Jabbarov, said at the press conference dedicated to the results of the IsDB Group Annual Meetings 2026, Trend's correspondent reports from the event.
The minister noted that the figures mentioned refer to the value of general agreements signed within the framework of the private sector forum held in Azerbaijan, and these projects are mainly aimed at the development of the private sector.
"The figures mentioned reflect the value of general agreements signed within the framework of the private sector forum held in Azerbaijan. These projects are mainly related to the private sector, and this reflects our policy aimed at the development of the private sector," he explained.
Jabbarov pointed out that a number of separate agreements have also been signed between Azerbaijan and the Islamic Development Bank Group. According to him, these include the Karabakh irrigation canal project.
"Separate sovereign agreements have also been signed between Azerbaijan and the IDB Group. I mentioned the Karabakh irrigation canal project," he said.
The minister added that there are similar agreements with the OPEC Fund, and the construction of the Sumgayit wastewater project is also included in them. According to him, the volume of the loan for the Karabakh irrigation canal is more than $450 million, and the Sumgayit wastewater project is more than $100 million.
Jabbarov also said that there is also an agreement on a project covering water supply to 33 villages and settlements on the Absheron peninsula.
The minister emphasized that the main focus of the forum is on infrastructure, real estate investments, energy projects, and the banking sector. At the same time, credit lines have been opened to Azerbaijani banks in both manat and US dollars, and these funds have been directed to financing small and medium-sized businesses.
"Azerbaijani banks have been provided with credit lines for financing small and medium-sized businesses in both local currency and US dollars," Jabbarov said.
He also noted that a financial line has been allocated to the Azerbaijan Business Development Fund.
According to the minister, agreements were also signed with a number of multilateral financial institutions, including Azerbaijan, within the framework of the event. An example of this is the framework agreement with the Turkish Investment Fund.
"Within the framework of this cooperation, agreements have been signed with multilateral financial institutions to which Azerbaijan is also a party. I can cite the framework agreement with the Turkish Investment Fund as an example of this," he said.
Jabbarov added that the forum also created an opportunity to expand investment cooperation with various member countries on a bilateral basis.
"This forum also gave us the opportunity to expand bilateral investment cooperation with a number of member countries, including the Arab world, the Asian region and African countries," he said.
The minister mentioned that they were satisfied with the results for the Azerbaijani economy and economic entities and that cooperation was expected to continue. He also said that the issue of sukuk issuance was at the stage of consultations with the Central Bank and the Islamic Development Bank Group.
"Relevant consultations on sukuk issuance are being conducted with the participation of the Central Bank of Azerbaijan and the Islamic Development Bank Group, and the process is currently at the evaluation stage," he clarified.
In conclusion, Jabbarov noted that the goal is to expand the access of Azerbaijani economic entities to financial resources.
