Isdb In Discussion With Azerbaijan To Support Several New Initiatives - Muhammad Al Jasser (Exclusive)

2025-05-22 03:07:24

(MENAFN- Trend News Agency) ALGIERS, Algeria, May 22. The Islamic Development Bank Group is in discussion with Azerbaijan to support several new initiatives, Chairman of the Islamic Development Bank Group Dr. Muhammad Al Jasser said in an exclusive interview with Trend.

Al Jasser recalled that IsDB launched the Country Engagement Framework for Azerbaijan in early 2024.

“Under this Framework, we signed the first project to support food security as well as the development of Karabakh on the sidelines of COP29 in November 2024. We are in discussion with the country to support several new initiatives, including the development of regional Energy Corridors, the Alat Free Economic Zone, and potential irrigation projects in Karabakh,” he said.

IsDB president noted that the Bank is also keen to partner with Azerbaijan to promote South-South Cooperation.

“Recently, a Technical Assistance grant was signed between the Central Bank of Azerbaijan and the IsDBInstitute to promote Islamic finance. Another Technical Assistanceagreement was signed recently to promote cooperation between Pakistan and Azerbaijan for the development of high-yielding cotton varieties,” he said.

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