Economy minister outlines role of global banks in Azerbaijan’s development

Expanding cooperation between Azerbaijan’s banking sector and international financial institutions, particularly partnerships established within the Azerbaijan–Arab Coordination Group, is facilitating the financing of major infrastructure projects such as pipelines, railways, and roads, Minister of Economy Mikayil Jabbarov said.

Addressing the opening ceremony of the 51st Annual Meetings of the Islamic Development Bank Group (IsDB), held in Baku with the participation of President Ilham Aliyev, Jabbarov emphasized Azerbaijan’s economic development strategy implemented in recent years and the role of international partnerships in this process, Caliber.Az reports via local media.

At the same time, he noted private sector development, strengthening human capital, and technological advancement as key priorities of the country’s economic policy.

The minister also emphasized the importance of long-term cooperation with the IsDB Group and the exchange of experience for the development of trade and increased mobility between countries.

Jabbarov noted the significance of expanding Azerbaijan’s cooperation with international financial institutions and building economic development on a sustainable foundation.

By Vafa Guliyeva