Azerbaijan And Islamic Development Bank Discuss Strategic Partnership For Next Decade
Date
1/14/2025 7:06:15 AM
(MENAFN- AzerNews)
Akbar Novruz
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Azerbaijan and the Islamic Development bank (IsDB) have
initiated discussions on forming a strategic framework document for
the next decade, covering the period 2026-2035,
Azernews reports.
The Ministry of Economy of Azerbaijan reported that First Deputy
Minister of Economy Elnur Aliyev held a series of meetings during
his visit to Saudi Arabia, including discussions with IsDB Group
President Mohammed Suleiman Al-Jasir and Turkish Deputy Minister of
Treasury and Finance Osman Çelik.
At the IsDB "Directors' Meeting" in Saudi Arabia, participants
deliberated on shaping the Bank's strategic framework for the
coming decade, exchanging views on institutional priorities and
addressing development needs in member countries.
Deputy Minister Aliyev underlined Azerbaijan's effective
cooperation with the IsDB and expressed appreciation for the Bank's
support in various projects. He particularly highlighted the
partnership document signed with the IsDB during COP29 in Baku for
the "Construction of a Main Irrigation Canal from the Maiden Tower
Reservoir" in the liberated territories of Azerbaijan. This project
marks the first initiative financed by an international financial
institution in Azerbaijan's liberated territories.
The framework discussions emphasized addressing reconstruction
and rehabilitation needs in member countries, drought relief in
climate-sensitive regions, and investing in large-scale
infrastructure projects such as transport corridors, energy
networks, and green infrastructure. The significance of digital
transformation initiatives aligned with global sustainability goals
was also noted.
The event reaffirmed the IsDB's commitment to fostering
innovative and inclusive activities, strengthening its position as
a trusted partner, and ensuring its strategies align with member
countries' development priorities. It also underscored the
importance of promoting international projects among member states
with IsDB's support.
This strategic dialogue highlights Azerbaijan's expanding
collaboration with global financial institutions to advance
sustainable development and economic growth.
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