Islamic Development Bank keen to expand cooperation with Azerbaijan 19.06.2026

The Islamic Development Bank Group (IsDB) aims to expand its cooperation with Azerbaijan, as announced by IsDB Group Chairman Muhammad Al Jasser at the closing press conference of the 14th IsDB Private Sector Forum in Baku. The partnership, ongoing since 1992, has historically focused on infrastructure, energy, agriculture, social services, and regional connectivity. Recent agreements signed during the forum include a $436 million project for the Karabakh Irrigation Canal reconstruction and a memorandum of understanding for comprehensive cooperation. Another memorandum outlines the construction of water supply and sewerage systems for 33 settlements on the Absheron peninsula. The forum itself, themed "Regional Integration for Sustainable Prosperity," saw 32 high-level meetings and knowledge-sharing events, attracting over 4,400 participants from 78 countries. Overall, 67 agreements totaling $6 billion were signed during the annual meetings, with IsDB approving $2.8 billion in new financing for nine projects across member countries.














