Azerbaijan’s First Deputy Minister of Economy, Elnur Aliyev, recently met with IsDB President Muhammad Sulaiman Al-Jasser during a visit to Saudi Arabia. Discussions focused on projects in Azerbaijan and the development of a new cooperation framework.
Since joining the Islamic Development Bank (IsDB) in 1992, Azerbaijan has benefited from over 70 projects worth $1.3 billion. These initiatives have improved energy infrastructure, including 1,060 MW in electricity generation, 230 MW of which is in green energy, and enhanced rural water supply networks benefiting 75,000 people.
Recent priorities include rebuilding liberated territories, renewable energy, and sustainable infrastructure. A $96.73 million credit line has been approved to construct a 52-kilometre irrigation canal from the “Giz Galasi” reservoir, serving 1.6 million people.
IsDB President Al-Jasser emphasized the bank’s commitment to Azerbaijan’s growth, celebrating its achievements during the 50th anniversary of the IsDB with the Riyadh Declaration. This new vision aims to strengthen economic cooperation, drive innovation, and respond to global challenges.
https://caliber.az/en/post/islamic-development-bank-s-role-in-azerbaijan-s-sustainable-growth
