Today the meeting with the delegation of Islamic Development Bank headed by IDB president Ahmed Muhammad Ali was held at the Ministry of Economic Development. Trend reports with reference to the Ministrys press release, the meeting was dedicated to discussion of mutual cooperation prospects and current relations.
Economic Development Minister Heydar Babayev said the cooperation with the bank is considered the matte of big importance. At IDBs financial support, projects for highways reconstruction, water and power supply and common social projects have been implemented. IDB issued for these projects some $140mln to date. Alongside, Islamic Corporation for Private Sector Development within IDB opened credit links to commercial banks and is further going to directly participate in privet sector projects.
Minister expressed his hope for intensification of IDBs participation in projects financing and supporting these projects by the government.
The parties also discussed the investment conference to take place November 7 to 9 in Baku. Over 200 participants from IDBs member-countries shall take part in this event. An agreement was technical assistance for this conference has been achieved.
The bank president stated his satisfaction with cooperation and significance of forthcoming conference in a view of development of relations with IDB and its member-countries.