The Islamic Development Bank (IDB) has initiated discussions on the formation of its strategic framework document for the upcoming decade (2026-2035), Report informs, referring to Azerbaijan’s Economy Ministry.
Azerbaijani First Deputy Economy Minister Elnur Aliyev held several meetings during his visit to Saudi Arabia. During his meeting with IDB Group President Muhammad Sulaiman Al Jasser and Türkiye's Deputy Minister of Treasury and Finance Osman Celik, topics of mutual interest were explored.
At the IDB Directors’ Meeting in Saudi Arabia, discussions focused on the bank's strategic framework for the next ten years. Participants exchanged views on the institution's priorities and the developmental needs of member countries.
Elnur Aliyev highlighted Azerbaijan's strong cooperation with the IDB and acknowledged the bank's support for various projects in the country.
Special attention was given to the partnership agreement signed at COP29 in Baku with the IDB for the "Construction of a Main Irrigation Canal from the Giz Galasi Reservoir" in the liberated territories of Azerbaijan. It was emphasized that this project marks the first initiative funded by an international financial institution in the liberated territories of Azerbaijan.
The framework document also underlined the significance of addressing the reconstruction and rehabilitation needs of member countries, including drought relief in climate-sensitive regions.
The document further stressed the need for investments in large-scale infrastructure projects, such as transport corridors, energy networks, green infrastructure projects aligned with global sustainability goals, and digital transformation initiatives.
The event reaffirmed the IDB's commitment to innovative activities and inclusiveness. There was an exchange of views on enhancing the IDB's role as a reliable partner and aligning its activities with the development priorities of member countries.
Additionally, the importance of promoting international projects among member countries with the support of the IDB was highlighted.