BAKU, Azerbaijan, July 15. The 2026 annual
meeting of the Board of Governors of the Economic Cooperation
Organization (ECO) Trade and Industry Bank (TIB) was held in
Türkiye.
This was announced by the Board of Governors of the ECO Trade
and Industry Bank.
According to the report, speakers at the event included
President of the ECO Trade and Development Bank (ETDB) Mohammad
Hashem Botshekan, Governing Council Chair and Governor of the State
Bank of Pakistan Jamil Ahmad, and OEC Secretary-General Asad Majed
Khan. They presented information on the Bank’s performance over the
past year, as well as measures to expand regional cooperation and
strengthen development financing.
Speaking at the meeting, Asgar Alakparov, Advisor to
Azerbaijan’s Minister of Economy, highlighted the Bank’s support
for the country’s private sector, economic diversification,
innovation, sustainable infrastructure, and financing for small and
medium-sized business projects. He emphasized the importance of the
ETDB Bank’s financial initiatives in terms of reducing currency
risks and expanding access to long-term financial resources. In
addition, he stated that expanding cooperation between the ETDB
Bank and the Turkish Investment Fund would contribute to the
financing of regional projects and the deepening of economic
integration.
During the meeting, the ETDB’s 2025 Annual Report, financial
statements, and the independent auditor’s report were presented. A
decision was also made to allocate the Bank’s net profit to
reserves.
Meanwhile, the ECO Trade and Development Bank (ETDB) is a
multilateral development bank founded in 2005 by Iran, Pakistan,
and Türkiye to accelerate socio-economic growth and intra-regional
trade. Headquartered in Istanbul, Turkey, with representative
offices in Tehran and Karachi, it finances projects across several
sectors, including agriculture, energy, and transportation. The
bank currently serves six member states: Afghanistan, Azerbaijan,
Iran, Kyrgyzstan, Pakistan, and Türkiye.
