IsDB CEO visits Karabakh, reaffirms commitment to supporting country's economic development
Qabil Ashirov
Read moreThe chairman of the Islamic Development Bank (IsDB), Dr. Muhammad Al Jasser, visited Karabakh, Azernews reports per the bank.
“The visit aimed to demonstrate solidarity with the people of Azerbaijan and reaffirm IsDB's commitment to supporting the country's socio-economic development based on the government’s priorities stated in its Strategy 2023,” the bank noted.
Special Representative of the Azerbaijani President for Shusha Aydin Karimov and Deputy Economy Minister Sahib Mammadov accompanied the chairman.
The Azerbaijani officials briefed ongoing reconstruction works in the liberated territories during the visit.
Dr. Al Jasser reaffirmed IsDB's commitment to supporting the country's economic development, including financing infrastructure projects and providing technical assistance.
According to the bank, the visit is expected to pave the way for more future cooperation and collaboration between the IsDB Group and the government of Azerbaijan, particularly in the reconstruction of Karabakh, connectivity, digital transformation, and renewable energy.
IsDB Group enjoys a strong relationship with Azerbaijan and is committed to fostering its socio-economic development. The IsDB Group has approved a total financing of about US$1.2 billion for Azerbaijan. This includes US$956 million in financing by IsDB, US$120.2 million approved by ICD, US$83.4 million in trade operations by ITFC, and US$19.4 million by other IsDB Group funds and operations. In addition, ICIEC has provided US$92.5 million as business insured and US$75.5 million as new insurance commitments.
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