Over 32 agreements expected at IsDB meeting in Baku, economy minister says

More than $4.7 billion worth of agreements are expected to be signed during the 51st Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku, Azerbaijan's Economy Minister Mikayil Jabbarov said at the 20th IsDB Global Forum on Islamic Finance.

According to Jabbarov, more than 32 agreements and memorandums of understanding with a combined value exceeding $4.7 billion are expected to be concluded during the event, Caliber.Az reports via local media.

The minister emphasized Azerbaijan's commitment to its longstanding partnership with the Islamic Development Bank Group.

"Since joining the organization in 1992, our cooperation has developed on the basis of mutual trust, shared priorities, and tangible results. Private sector development, trade finance, infrastructure projects, support for small and medium-sized enterprises, the green transition, and digital transformation are key priorities both for the Islamic Development Bank Group and for Azerbaijan's national economic strategy," he said.

Jabbarov highlighted economic diversification as one of Azerbaijan's principal strategic goals, noting the potential benefits of deeper cooperation with the IsDB Group.

"Combining Azerbaijan's capabilities with the financial instruments and international network of the Islamic Development Bank Group creates opportunities to implement projects that are both commercially viable and development-oriented," he added.

By Vafa Guliyeva