17:01 - 19.06.2026
June 19, Fineko/abc.az. The Islamic Development Bank (IDB) Group stands for expanding the participation of the Arab Coordination Group in the development process of Azerbaijan.
ABC.AZ informs that the Chairman of the IDB Group, Mohammed Al-Jasser, said this during the final press conference of the 51st annual meeting of the IDB Group, held in the capital of Azerbaijan.
He noted that Baku turned out to be something much more than just an impressive venue for this year's annual meetings.
"Over the past four days, this city has contributed to filling our discussions with real practical content. Since 1992, Azerbaijan and the Islamic Development Bank Group have formed a strong partnership that covers such areas as infrastructure, energy, agriculture, social services and regional integration.
This week we started an ambitious new chapter in our relationship. An agreement was signed on a project to restore the Karabakh irrigation canal worth 436 million US dollars, as well as a memorandum of understanding on a comprehensive framework program for cooperation with the country.
In addition, we strive for a more extensive and active participation of the Arab Coordination Group in the development processes of Azerbaijan. Another memorandum of understanding was signed for the construction of water supply and sewerage systems in 33 settlements on the Absheron Peninsula," he stressed.
