The Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser, held productive bilateral talks with H.E. Mr. Mikayil Jabbarov, the Minister of Economy (IsDB Governor), and H.E. Mr. Samir Sharifov, the Minister of Finance (IsDB Alternate Governor) in Baku. During the discussions, the IsDB President emphasized the strong relationship between IsDB and the Government of Azerbaijan and reiterated IsDB's commitment to fostering cooperation with the Republic of Azerbaijan to contribute to its socioeconomic development.

IsDB President Dr. Al Jasser took the opportunity to express his appreciation to H.E. Mr. Mikayil Jabbarov for arranging a visit to the liberated territories in Karabakh. He reiterated IsDB's keen interest in supporting the government's efforts to develop and reconstruct Karabakh or any other region in the country according to the government's plans and priorities.

During the meeting, the leaders also discussed the macro and microeconomic aspects of Azerbaijan's policy and their aspirations for its sustainable development. Dr. Al Jasser praised the government's inspiring approach to development and the cultural aspects they kept in mind.

Expressing IsDB's desire to help in the reconstruction, Dr. Al Jasser noted the need to appoint focal points from each side to go over projects the IsDB could finance. This exchange promises to lay the groundwork for future collaborations and partnerships between IsDB and Azerbaijan.

IsDB has also been working closely with the Government of Azerbaijan to promote halal industry development to facilitate the participation of the country's private sector in the rapidly growing global market of halal products and services. A stakeholder consultation workshop is planned for 2023, and IsDB's Center of Excellence in Kuala Lumpur will prepare a halal industry development plan for Azerbaijan based on the workshop findings.

IsDB has initiated a Reverse Linkage project between Azerbaijan and Tajikistan with ASAN service to help the Government of Tajikistan benefit from Azerbaijan's most successful expertise in e-governance. IsDB President Dr. Muhammad Al Jasser looks forward to signing the MOU with ASAN during the visit.

IsDB is committed to continuing its support to the country to facilitate the development of regional railway initiatives and renewable energy projects through sovereign and PPP modalities in accordance with the country's development priority.

Dr. Al Jasser also highlighted to the two leaders the potential opportunities for sovereign financing, such as the Karabakh Reconstruction Program (including smart villages), regional connectivity initiatives, agricultural value chain in Azerbaijan, infrastructure, digital development, and support for the private sector.

The IsDB President expressed his gratitude to H.E. Mr. Mikayil Jabbarov and H.E. Mr. Samir Sharifov for the warm welcome and hospitality accorded to him and his delegation during their visit to Azerbaijan.