President of the Republic of Azerbaijan Ilham Aliyev received a delegation led by the heads of institutions belonging to the Arab Coordination Group on June 18.
Operative Information Center-OMM reports that the delegation included Chairman of the Islamic Development Bank Group Muhammad Sulaiman Al-Jasser, President of the OPEC Fund for International Development Abdulhamid Alkhalifa, President of the Arab Bank for Economic Development in Africa (BADEA) Sidi Ould Tah, Director General and Chairman of the Board of the Arab Monetary Fund Fahad Al-Turki, CEO of the Saudi Fund for Development Sultan Al-Marshad, CEO of the Arab Gulf Program for Development (AGFUND) Hammam bin Nasser bin Jureid, Director of Operations at the Kuwait Fund for Arab Economic Development Tamer Al-Failakavi, Minister of Finance of the Kingdom of Saudi Arabia Mohammed Al-Jadaan, Minister of Finance of the State of Kuwait Noura Al-Fassam, Minister of Finance of the State of Qatar Ali bin Ahmed Al-Kuwari, and Assistant Minister for International Financial Relations at the Ministry of Finance of the United Arab Emirates Ali Abdullah Sharafi.
The head of state noted the importance of the participation of the heads of the Arab Coordination Group member institutions in the 2026 Annual Meetings of the Islamic Development Bank Group.
President Ilham Aliyev highlighted the active cooperation established between Azerbaijan and the member institutions of the Arab Coordination Group, emphasizing that many projects are currently in the implementation phase. The head of state also touched upon the significance of the documents to be signed.
Expressing his pleasure at being in the country, Chairman of the Islamic Development Bank Group Muhammad Sulaiman Al-Jasser expressed his gratitude to President Ilham Aliyev on behalf of the delegation for the reception. He highly appreciated the support provided by the head of state for expanding cooperation between the institution he leads and Azerbaijan.
During the conversation, it was emphasized that there are significant opportunities for expanding the partnership between Azerbaijan and the Arab Coordination Group. The parties noted the importance of the favorable investment climate in Azerbaijan for implementing joint projects with the group's members.
Following the meeting, a credit agreement was signed in the presence of the President of Azerbaijan for the "Construction of the Sumgait New Wastewater Treatment Plant" project. Additionally, a Memorandum of Understanding on expanding cooperation regarding the "Construction of water supply and sewage systems in 33 settlements of the Absheron Peninsula" project was exchanged between the Ministry of Economy of the Republic of Azerbaijan, the State Water Resources Agency of Azerbaijan, and members of the Arab Coordination Group.
Subsequently, the head of state presented the "Dostluq" (Friendship) Order to the Chairman of the Islamic Development Bank Group, Muhammad Sulaiman Al-Jasser. Al-Jasser expressed his gratitude to the head of state for the high appreciation of his activities. It should be noted that Muhammad Sulaiman Al-Jasser was awarded this order by the decree of President Ilham Aliyev for his contributions to the development of cooperation between Azerbaijan and the Islamic Development Bank.
The Arab Coordination Group serves as a strategic mechanism for development finance, bringing together major regional funds to coordinate efforts in supporting economic growth and infrastructure development across member and partner countries, including Azerbaijan.
