BAKU, Azerbaijan, January 14. The Kingdom of Saudi Arabia has hosted a discussion on the strategic framework document of the Islamic Development Bank (IsDB) for the next decade, Trend reports.
The discussions took place during a meeting between Azerbaijan’s First Deputy Minister of Economy Elnur Aliyev, IsDB Group Chairman Muhammad Sulaiman Al Jasser, and Türkiye’s Deputy Minister of Treasury and Finance, Osman Celik, within the framework of a visit to Saudi Arabia.
In the course of the strategic dialogue with Chairman Al Jasser and Deputy Minister Celik, a plethora of pertinent issues of mutual interest were deliberated upon. Critical elements for the establishment of the IsDB’s strategic framework document for the forthcoming decade (2026-2035) were also delineated, alongside focal areas and developmental requisites of the member nations.
Elnur Aliyev highlighted Azerbaijan's fruitful cooperation with the IsDB and emphasized the significance of signing a partnership document with the Bank as part of the project for the construction of a main irrigation canal in the liberated territories of Azerbaijan.
He also emphasized the importance of the partnership document signed in Baku within the framework of COP29 for the "Construction of the Main Irrigation Canal from the Giz Galasi Reservoir" in Azerbaijan's liberated territories and noted that this irrigation canal project is the first to be financed by international financial institutions in these liberated areas.
The framework document stresses the need to address the reconstruction and restoration needs of member countries and tackle issues like overcoming drought in climate-sensitive regions. Investment in large-scale infrastructure projects such as transport corridors, energy networks, and green infrastructure initiatives aligned with global sustainable development goals was also highlighted.
The document also underscores the importance of addressing the needs of member countries in terms of reconstruction and recovery and addressing problems such as drought in climate-sensitive regions. Special focus is given to investment in large-scale infrastructure projects, including transport corridors and energy networks, as well as green infrastructure projects and digital transformation initiatives that meet global sustainable development goals.
The event underscored the IsDB's dedication to innovation and inclusivity. Participants engaged in a productive exchange of ideas focused on enhancing the organization's role as a trusted partner and aligning priorities for the development of member countries. The paramount significance of bolstering transnational initiatives among constituent countries with the facilitation of the IsDB was likewise underscored.
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