Baku, Republic of Azerbaijan, 28 February 2023 - IsDB Group President, H.E. Dr. Muhammad Al Jasser, met with the CEO of Azerbaijan Investment Holding (AIH), H.E. Mr. Ruslan Alikhanov, during his visit to Baku. The IsDB Group has a longstanding and strong relationship with the Government of Azerbaijan, and the President reaffirmed the Bank's commitment to fostering cooperation with the country, including its private sector. The two parties also exchanged views on ways to enhance investment opportunities in Azerbaijan and in IsDB member countries.

Azerbaijan's recent membership to the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) in January 2023 was also discussed during the meeting. This membership will open up new opportunities for enhanced collaboration, including attracting new investments for the development of renewable energy projects, especially in the Karabakh region.

IsDB has extensive experience in designing reverse linkage operations to promote the transfer of knowledge in various fields among member countries. Furthermore, IsDB stands ready to consider capacity development activities to support AIH.

In addition to the interventions of the Islamic Corporation for the Development of the Private Sector (ICD) and the Islamic Trade Finance Corporation (ITFC), IsDB can also consider line of finance modalities to support AIH portfolio companies under the sovereign guarantee. Given the Bank's extensive experience in such facilities in different member countries, an impactful one can be designed in line with the Government's priorities, with AIH as the intermediary.

The IsDB Group's commitment to fostering cooperation with Azerbaijan and its private sector, along with its extensive experience in various fields, positions it well to support the country's development goals.