Baku, Republic of Azerbaijan, 1^st March 2023 – Islamic Development Bank (IsDB) President, H.E. Dr. Muhammad Al Jasser has held a productive meeting with Mr. Osman Khaliyev, the Chairman of Board of Directors, Entrepreneurship Development Fund (EDF) and Mr. Ulvi Mansurov, Executive Director, Azerbaijan Investment Company (AIC) in Baku. The meeting provided an opportunity to discuss matters of mutual interest and explore avenues for collaboration.

Dr. Al Jasser expressed his delight at the strong relationship between IsDB Group and the Government of Azerbaijan. He reiterated the Group's commitment to fostering cooperation with the Republic of Azerbaijan, including its private sector.

The recent membership of Azerbaijan to ICIEC in January 2023 will open new opportunities for enhanced collaboration, including attracting new investments for the development of the private sector. IsDB stands ready to support capacity development activities if EDF and AIC require specific expertise or knowledge.

In addition to ICD and ITFC interventions, line of finance modalities could be considered by IsDB with EDF and AIC targeting the private sector under the sovereign guarantee. Given that IsDB has extensive experience in such facilities in different member countries, an impactful intervention can be designed with EDF or AIC as the intermediary in line with the Government priorities.

Dr. Al Jasser appreciated the opportunity to meet with the leadership of EDF and AIC and to explore new areas of collaboration which will help to deepen the relationship between IsDB and Azerbaijan.