Islamic Development Bank interested in projects underway in Azerbaijan's Shusha

Economy Materials 27 February 2023 15:45 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 27. The Islamic Development Bank is interested in the projects underway in Azerbaijan's Shusha, Trend reports via Azerbaijan's Ministry of Economy.

According to the ministry, this was stated during the visit of the Chairman of the Bank H.E. Dr. Muhammad Al Jasser to Shusha.

During the visit, the Special Representative of the President of Azerbaijan in Shusha, Aydin Kerimov, informed the guests about the current work underway in Shusha.

In addition, the representatives of the Ministry of Economy made a presentation on the economic potential of the liberated territories, the infrastructure projects underway, and the benefits applied to entrepreneurs.

In turn, Chairman of the Bank H.E. Dr. Muhammad Al Jasser noted the importance of the projects implemented jointly with Azerbaijan in terms of the country's economic development (including infrastructure) and stressed the great potential for expanding cooperation.

H.E. Dr. Muhammad Al Jasser highly appreciated the work done and the Bank's interest in the projects underway in Shusha. Furthermore, he also stressed the possibility of cooperation in the field of investments.

During the visit to Shusha, the delegation of the Islamic Development Bank Group got acquainted with the city square of Shusha, the Khan gizi spring, the walls of the Shusha Castle, and visited the Yukhari Govhar Agha Mosque and Jidir Duzu.

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