BAKU, Azerbaijan, June 18. The Islamic
Development Bank (IsDB) Group has approved a total of $1.8 billion
for Azerbaijan since 1992, said Chairman of the IsDB Group Dr.
Muhammad Sulaiman Al Jasser.


Speaking during the opening ceremony of the IsDB Annual Meetings
2026 in Baku, he noted that from the ancient Silk Road to today's
Middle Corridor, Azerbaijan has for centuries linked East and West,
North and South, transforming geography into shared
opportunity.


“Yet Azerbaijan's story is not only one of connectivity, it is
also a story of resilience and renewal. We are proud to be the
first multilateral development bank to visit liberated Karabakh,
reaffirming our commitment to Azerbaijan's reconstruction and
development. And since Azerbaijan joined the bank in 1992, our
cooperation has flourished with the Islamic Development Bank Group,
approving approximately $1.8 billion for 84 projects in
infrastructure, energy, agriculture, and social services. Projects
like the Baku-Tbilisi-Kars railway and the Alat Free Economic Zone
are not isolated national projects. They are regional arteries of
trade that perfectly embody our Annual Meetings’ theme, “Regional
integration for sustainable prosperity”,” he noted.







Al Jasser went on to add that the IsDB Group’s ambitions for
regional integration and shared prosperity are unfolding in a
global environment tested by inflation, conflict, and supply chain
disruptions.


“Despite broader global resilience, the economic outlook remains
fragile. While growth in our member countries is projected to
outpace global and emerging market averages, this aggregate
performance masks a harsher reality. Our most vulnerable economies
still face a difficult road ahead. It is in this challenging
context that the Islamic Development Bank Group has stepped up its
response. In 2025, total financing approvals increased by 20% to
nearly $16 billion, bringing cumulative approvals since inception
to $209 billion. But commitments alone are not enough. Impact
depends on delivery. We therefore also strengthened our execution,
increasing disbursements to $11 billion compared to $9.2 billion in
2024. At the Islamic Development Bank, the $5.7 billion in
approvals targeted priority sectors with 46% for transport and
connectivity, 20% for water and urban services, and 16% for health
financing. Our group affiliates further amplified this momentum,”
he added.