The opening ceremony of the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group was held in Baku, with President Ilham Aliyev in attendance.
According to the Operative Information Center-OMM, the high-level event brought together international delegates to discuss strategies for regional integration, economic resilience, and sustainable development.
In his address, President Ilham Aliyev highlighted Azerbaijan's stable economic development, the country's role as a reliable energy supplier, and the ongoing large-scale reconstruction efforts in the liberated Garabagh and East Zangazur regions. The President emphasized that Azerbaijan has successfully transformed into a major transport and logistics hub, connecting Eurasia through the East-West and North-South corridors, and noted that the country's non-oil and gas sector now accounts for over 70 percent of its GDP.
IsDB Group Chairman Muhammad Sulaiman Al Jasser praised Azerbaijan's resilience and its commitment to regional cooperation. He noted that the bank has financed 84 projects in Azerbaijan worth approximately 1.8 billion USD since 1992, spanning infrastructure, energy, and social services. He further highlighted the significance of the partnership, noting that the IsDB was the first multilateral development bank to visit the liberated Garabagh region.
The event concluded with the signing of several key documents, including the Framework (Loan) Agreement and Grant Agreement for the "Reconstruction of the Garabagh irrigation canal" project, as well as a Memorandum of Understanding between the Ministry of Economy of Azerbaijan and the Islamic Development Bank regarding the preparation of a Member Country Partnership Strategy for Azerbaijan.
The Islamic Development Bank is a multilateral development finance institution that fosters economic development and social progress in member countries. Azerbaijan has been a member since 1992, and this event underscores the country's growing role as a regional hub for international cooperation and infrastructure development.
