Azerbaijan identifies key priorities for IsDB cooperation

Azerbaijan has identified key priorities for cooperation with the Islamic Development Bank (IsDB) over the next five years.

Report informs that Economy Minister Mikayil Jabbarov said this at the closing press conference of the IsDB Group's 51st Annual Meetings held in Baku.

According to him, Azerbaijan and the IsDB Group have developed a new Member Country Partnership Strategy covering 2027-2031.

Jabbarov said the strategy is fully aligned with the goals set out in the "Azerbaijan 2030: National Priorities for Socio-Economic Development" document, as well as with the IsDB Group's 10-year strategic framework for 2026-2035.

He noted that the document would enable more targeted and high-impact projects in key sectors. The minister said cooperation over the next five years would focus on economic diversification, increased investment in human capital, the development of green and sustainable infrastructure, and the expansion of regional coordination and connectivity.

Jabbarov added that the sides are currently working jointly on a number of projects related to water supply and treatment, railway infrastructure, agriculture, especially the development of liberated territories, as well as the Alat Free Economic Zone.

He said one of the notable projects is the IsDB Group''s participation in financing the Karabakh Main Irrigation Canal and Giz Galasi Reservoir projects, which are expected to make an important contribution to improving water management and increasing agricultural productivity in Jabrayil, Fuzuli and surrounding areas.

The minister also expressed gratitude to the bank's leadership for supporting the revival of Azerbaijan's cooperation with the Arab Coordination Group.

Jabbarov said significant progress had been made toward implementing a multibillion-dollar package of projects in transport, railways and water supply through the joint efforts of the IsDB Group, the OPEC Fund for International Development, the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development and the Abu Dhabi Fund for Development.

He noted that additional areas for expanding cooperation were identified during a meeting with President Ilham Aliyev the previous day.

Jabbarov thanked the organizing committee, IsDB's professional and dedicated team, volunteers and state institutions that contributed to organizing the event in Azerbaijan.

He said he believed the meeting had become an important milestone not only in Azerbaijan's bilateral relations with the bank, but also in terms of further strengthening economic ties with member states.

The minister also expressed gratitude to all senior officials who came to Baku, took part in the discussions and represented their countries.

Jabbarov emphasized that Azerbaijan looks forward to expanding cooperation with IsDB both in the country and in third countries, with special attention to least developed countries, in line with the bank's strategic vision and the priorities set by its leadership.