Muhammad Al Jasser: IsDB so far allocated $1.8B for projects in Azerbaijan

The Islamic Development Bank Group (IsDB) has so far committed approximately $1.8 billion in financing projects in Azerbaijan, IsDB Group President Muhammad Al Jasser said in an interview with Report.

"The partnership spans more than three decades, since Azerbaijan became a shareholder in the bank in 1992. Since then, the IsDB Group has provided approximately $1.8 billion in financing for 84 projects in key economic sectors, including agriculture, energy, water resources, transport, and financial services," he said.

According to him, most of the projects have already been completed. Eleven projects are currently under implementation, with a total value of $635.9 million.

"Many of the completed projects have been independently evaluated and have demonstrated tangible and long-term results. Ongoing projects are also expected to have a significant impact, particularly through the development of irrigation canals that provide water to agricultural land, increased household access to clean water, modernization of sanitation systems, and business support through trade finance," Muhammad Al Jasser added.