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Islamic Development Bank Group Chairman: Cooperation with Azerbaijan has entered a new stage

Muhammad Al Jasser, Chairman of the Islamic Development Bank Group

19 June 2026 16:12 (UTC +04:00)

Baku played a role that went far beyond simply providing a beautiful backdrop for this year's Annual Meetings. Over the past four days, the city gave real substance to our discussions, Muhammad Al Jasser, Chairman of the Islamic Development Bank Group
said at a press conference held within the framework of the Islamic Development Bank Annual Meetings in Baku, APA-Economics reports.

According to him, since 1992, Azerbaijan and the Islamic Development Bank Group have built a lasting partnership in the fields of infrastructure, energy, agriculture, social services and regional connectivity.

“This week, we opened an entirely new chapter in this relationship. We signed an agreement on the $436 million Karabakh Irrigation Canal Restoration Project and a memorandum of understanding on a comprehensive Country Cooperation Framework. In addition, we are working to ensure a broader and more active role for the Arab Coordination Group in Azerbaijan’s development path. Another memorandum of understanding was signed on the construction of water supply and sewage systems in 33 settlements located on the Absheron Peninsula. We look forward to deepening our cooperation with Azerbaijan, supporting its national priorities, and strengthening its role as a bridge between regions, markets and peoples,” the chairman said.

“The theme of this year’s meetings, ‘Regional Integration for Sustainable Prosperity,’ was not merely a slogan. It was the driving force behind every decision made by our governments. This theme was reflected in our sessions, business meetings and partnership discussions. Throughout the week, we held 32 high-level meetings and knowledge-sharing events, including those organized by the Private Sector Forum. These events brought together distinguished thought leaders, academics and development experts. We welcomed more than 4,400 participants from 78 countries and various regional and international organizations, including 46 heads of institutions. Together, we discussed the most pressing issues, including trade, connectivity, energy, food security, Islamic finance, private sector development, climate action and digital transformation. We focused not only on ambition but also on financing the realization of that ambition,” he added.

Islamic Development Bank Group Muhammad Al Jasser IsDB Annual Meetings Baku Azerbaijan regional integration sustainable prosperity Karabakh Irrigation Canal irrigation project Country Cooperation Framework Arab Coordination Group Absheron Peninsula water supply sewage systems infrastructure energy agriculture social services regional connectivity trade food security Islamic finance private sector development climate action digital transformation international cooperation development finance investment economic development Private Sector Forum global partnerships Baku meetings Azerbaijan-IsDB cooperation