Islamic Development Bank praises Azerbaijan's efforts in rebuilding Karabakh, reaffirms commitment to provide support

Economy Materials 27 February 2023 12:37 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
Read more

BAKU, Azerbaijan, February 27. Muhammad Al Jasser, Chairman of Islamic Development Bank (IsDB) Group, has paid a visit to Azerbaijan's Karabakh, Trend reports via the bank.

The chairman once again stressed the IsDB's commitment to support Azerbaijan's economic development, in particular, with the reconstruction in Karabakh, connectivity and digital transformation projects, as well as in renewable energy sector.

Al Jasser reaffirmed that IsDB is eager to finance new infrastructure projects and provide necessary technical assistance.

During the visit to Karabakh, the IsDB delegation was briefed on the ongoing reconstruction projects. The delegates commended the ongoing efforts of Azerbaijan to rebuild and develop the region.

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 $1.2 billion for Azerbaijan. This includes $956 million in financing by IsDB, $120.2 million approved by ICD, $83.4 million in trade operations by ITFC, and $19.4 million by other IsDB Group funds and operations. In addition, ICIEC has provided $92.5 million as business insured and $75.5 million as new insurance commitments