Jabbarov: Azerbaijan, IsDB implement 11 projects worth $640M

At present, Azerbaijan has implemented 11 projects jointly with the Islamic Development Bank (IsDB) Group, with a total value of approximately $640 million, Azerbaijani Minister of Economy Mikayil Jabbarov said at the closing press conference of the IsDB Group's 51st Annual Meetings in Baku.

Jabbarov pointed out that although Azerbaijan's initial share in the bank's charter capital was 0.1% when it joined, this figure has since risen to 1%: "This demonstrates Azerbaijan's growing role in the group's activities and its commitment to the institution. The development of Azerbaijan–IsDB cooperation has been recognized with the country's Friendship Order, underscoring the importance attached to this partnership at the highest level."

He recalled that IsDB was one of the first international financial institutions to support Azerbaijan in the early years of independence.

The minister added that since then, the IsDB has financed about $1.8 billion across 84 operations in key sectors such as infrastructure, agriculture, energy, water management, transport, and financial services.

Most of these projects have already been successfully completed, Jabbarov said.