BAKU, Azerbaijan, June 19. IsDB Group's
investments in Azerbaijan have reached $1.8 billion, Minister of
Economy Mikayil Jabbarov said at a press conference dedicated to
the results of the IsDB Group's 2026 Annual Meetings held in Baku,
Trend's
correspondent reports from the event
"The group has financed 84 operations worth about $1.8 billion
in Azerbaijan, covering various sectors, including energy,
infrastructure, agriculture, water resources, transport, and
financial services," he explained.
In his speech, the minister noted that the awarding of
Azerbaijan's "Dostlug" Order is an indicator of the importance the
country attaches to international partnership at the highest level.
According to him, the IsDB Group was one of the first international
institutions to support Azerbaijan from the early years of its
independence, and this partnership has now entered a more
transformative phase.
"Azerbaijan has been a member of the bank since 1992, and over
the past period, the IsDB Group has financed 84 operations in the
country worth approximately $1.8 billion, covering various sectors,
including energy, infrastructure, agriculture, water resources,
transport, and financial services. The majority of the projects
have already been completed, and currently, 11 projects with a
total value of approximately $640 million are under
implementation," he pointed out.
The minister added that Azerbaijan's position in the bank's
shareholder structure has also been strengthened, and the country's
capital share has increased from the initial 0.1 percent to 1
percent.
According to him, the country partnership strategy between
Azerbaijan and the IsDB Group covering 2027–2031 is aligned with
"Azerbaijan 2030: National Priorities for Socio-Economic
Development" and the bank's 10-year strategic framework covering
2026–2035.
"Within this framework, economic diversification, investment in
human capital, development of green and sustainable infrastructure,
as well as expansion of regional connections will be the main
priorities in the coming years," he announced.
Jabbarov also informed that work is underway on new projects in
areas such as water supply and water purification, railways,
agriculture (especially liberated territories), and the Alat Free
Economic Zone.
The Minister said that the Karabakh Main Irrigation Canal,
financed by the IsDB Group, is of particular importance in terms of
improving water management and increasing agricultural productivity
in the Jabrayil and Fuzuli districts.
He also highly appreciated the role played by the IsDB Group
leadership in reconnecting Azerbaijan with the Arab Coordination
Group, and emphasized that within the framework of this
cooperation, a multi-billion dollar project portfolio was being
advanced with partners, including the OPEC Fund for International
Development, the Kuwait Fund for Arab Economic Development, and the
Abu Dhabi Fund for Development.
At the end of his speech, Jabbarov said that Azerbaijan is
interested in expanding cooperation with the Islamic Development
Bank both within the country and in third countries, especially
with a focus on the least developed countries, in accordance with
the vision and priorities of the bank's leadership.
