BAKU, Azerbaijan, June 19. The results of the
2026 Annual Meetings of the Islamic Development Bank (IsDB) Group
have been announced, Minister of Economy of Azerbaijan, Mikayil
Jabbarov, said at the press conference dedicated to the results of
the IsDB Group Annual Meetings 2026, Trend's correspondent reports from the
event.


The minister noted that the figures mentioned refer to the value
of general agreements signed within the framework of the private
sector forum held in Azerbaijan, and these projects are mainly
aimed at the development of the private sector.


"The figures mentioned reflect the value of general agreements
signed within the framework of the private sector forum held in
Azerbaijan. These projects are mainly related to the private
sector, and this reflects our policy aimed at the development of
the private sector," he explained.


Jabbarov pointed out that a number of separate agreements have
also been signed between Azerbaijan and the Islamic Development
Bank Group. According to him, these include the Karabakh irrigation
canal project.


"Separate sovereign agreements have also been signed between
Azerbaijan and the IDB Group. I mentioned the Karabakh irrigation
canal project," he said.


The minister added that there are similar agreements with the
OPEC Fund, and the construction of the Sumgayit wastewater project
is also included in them. According to him, the volume of the loan
for the Karabakh irrigation canal is more than $450 million, and
the Sumgayit wastewater project is more than $100 million.


Jabbarov also said that there is also an agreement on a project
covering water supply to 33 villages and settlements on the
Absheron peninsula.


The minister emphasized that the main focus of the forum is on
infrastructure, real estate investments, energy projects, and the
banking sector. At the same time, credit lines have been opened to
Azerbaijani banks in both manat and US dollars, and these funds
have been directed to financing small and medium-sized
businesses.


"Azerbaijani banks have been provided with credit lines for
financing small and medium-sized businesses in both local currency
and US dollars," Jabbarov said.







He also noted that a financial line has been allocated to the
Azerbaijan Business Development Fund.


According to the minister, agreements were also signed with a
number of multilateral financial institutions, including
Azerbaijan, within the framework of the event. An example of this
is the framework agreement with the Turkish Investment Fund.


"Within the framework of this cooperation, agreements have been
signed with multilateral financial institutions to which Azerbaijan
is also a party. I can cite the framework agreement with the
Turkish Investment Fund as an example of this," he said.


Jabbarov added that the forum also created an opportunity to
expand investment cooperation with various member countries on a
bilateral basis.


"This forum also gave us the opportunity to expand bilateral
investment cooperation with a number of member countries, including
the Arab world, the Asian region and African countries," he
said.


The minister mentioned that they were satisfied with the results
for the Azerbaijani economy and economic entities and that
cooperation was expected to continue. He also said that the issue
of sukuk issuance was at the stage of consultations with the
Central Bank and the Islamic Development Bank Group.


"Relevant consultations on sukuk issuance are being conducted
with the participation of the Central Bank of Azerbaijan and the
Islamic Development Bank Group, and the process is currently at the
evaluation stage," he clarified.


In conclusion, Jabbarov noted that the goal is to expand the
access of Azerbaijani economic entities to financial resources.