BAKU, Azerbaijan, February 24. The Islamic
Development Bank (IsDB) has provided $436.67 million in financing
to Azerbaijan to increase agricultural productivity by
significantly reducing irrigation water losses and promoting
sustainable rural development, in line with the "Azerbaijan 2030:
National Priorities for Socioeconomic Development" program,
Trend reports via
the bank.
The project will also pave the way for green growth, bolster
climate resilience, and guarantee food security for the long
haul.
"The approved projects demonstrate the IsDB's strategic focus on
promoting sustainable and inclusive growth in its member countries.
By addressing key challenges in infrastructure, energy, water
resources, transport, and industrial development, these initiatives
will ensure long-term impact and make a significant contribution to
achieving the Sustainable Development Goals (SDGs)," the statement
reads.
The IsDB announced the approval of $2.41 billion in financing
for a number of transformational projects at its 364th Board of
Executive Directors (BED) meeting, chaired by IsDB President
Mohammed Al Jasser.
The approval reflects the bank's continued commitment to
strengthening regional cooperation, promoting economic development,
including climate- and environmental-focused investments, and
advancing the SDGs in member countries.
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