Agreements worth $4.7 billion to be signed at 51st IsDB Annual Meeting

Agreements worth more than $4.7 billion will be signed during the 51st Annual Meeting of the Islamic Development Bank (IsDB) Group in Baku, Azerbaijan's Economy Minister Mikayil Jabbarov said at the 20th IsDB Global Forum on Islamic Finance, held as part of the 51st Annual Meeting of the Islamic Development Bank Group in Baku.

Report quotes the minister as saying that more than 32 agreements and memorandums of understanding with a total value exceeding $4.7 billion are expected to be signed during the event.

Jabbarov noted that Azerbaijan places great importance on its long-term partnership with the IsDB Group.

"Since joining the organization in 1992, our cooperation has developed on the basis of mutual trust, shared priorities, and tangible results. Private sector development, trade finance, infrastructure projects, support for small and medium-sized enterprises, the green transition, and digital transformation are key priorities both for the Islamic Development Bank Group and for Azerbaijan's national economic strategy," he said.

The minister stressed that economic diversification remains one of Azerbaijan's main strategic objectives.

"Combining Azerbaijan's capabilities with the financial instruments and international network of the Islamic Development Bank Group creates opportunities to implement projects that are both commercially viable and development-oriented," Jabbarov added.