BAKU, Azerbaijan, June 19. The Islamic
Development Bank Group (IsDB) intends to deepen cooperation with
Azerbaijan and support the implementation of the country's national
priorities, Chairman of IsDB Group Muhammad Al Jasser said at the
closing press conference held as part of the 14th IsDB Private
Sector Forum, Trend's correspondent reports from the event.


According to him, Baku has become not only a venue for annual
meetings but also a place where discussions have been furthered in
practice.


"Since 1992, Azerbaijan and the IsDB Group have built a
long-term partnership in infrastructure, energy, agriculture,
social services, and regional connectivity. During the current
annual meetings, a number of documents were signed, opening a new
stage of cooperation. In particular, the parties signed an
agreement on the Karabakh Irrigation Canal reconstruction project
worth $436 million, as well as a memorandum of understanding on a
comprehensive framework program for cooperation with the country,"
he said.


According to the chairman, another memorandum of understanding
was also signed on the construction of water supply and sewerage
systems in 33 settlements on the Absheron peninsula.


"We look forward to deepening our cooperation with Azerbaijan,
supporting its national priorities, and strengthening its growing
role as a vital bridge connecting regions, markets, and people. The
theme of these annual meetings, 'Regional Integration for
Sustainable Prosperity,' formed the basis for the discussions and
decisions made. Over the course of the week, 32 high-level meetings
and knowledge-sharing events were held, including events within the
framework of the Private Sector Forum. We welcomed more than 4,400
participants from 78 countries, as well as representatives of
numerous regional and international organizations, including 46
heads of various institutions," he noted.







Al Jasser pointed out that the participants discussed issues of
trade, transport connectivity, energy, food security, Islamic
finance, private sector development, the climate agenda, and
digital transformation.


He also reported that 67 agreements totaling $6 billion were
signed during the annual meetings, involving 10 member countries,
regional institutions, and private sector companies.


"These agreements are aimed at supporting key sectors and
reaffirm our commitment to implementing projects with high
development impact. The Islamic Development Bank has approved new
financing totaling $2.8 billion for nine projects in member
countries. The projects are aimed at developing transport
connectivity, strengthening energy security, improving food
systems, enhancing climate resilience, and achieving the
Sustainable Development Goals," Al Jasser added.