BAKU, Azerbaijan, February 24. Islamic Development Bank (IsDB) Group Chairman Muhammad Al Jasser is expected to visit Azerbaijan on February 25, Trend reports via the bank.
According to the IsDB, his visit will last until March 3.
“The strategic visit is intended to maximize cooperation between the IsDB Group and Azerbaijan, expand potential areas of collaboration, and spur actions that will enhance socio-economic development in the country,” the bank said.
At the same time, Al Jasser will also visit some of the IsDB Group-funded projects in the country to see their progress and impact firsthand. In addition, he will also tour some historical sites in the capital Baku.
IsDB Group enjoys a strong relationship with Azerbaijan and is committed to fostering its socio-economic development. The IsDB Group has approved a total financing of about US$1.2 billion for Azerbaijan. This includes US$956 million in financing by IsDB, US$120.2 million approved by ICD, US$83.4 million in trade operations by ITFC, and US$19.4 million by other IsDB Group funds and operations. In addition, ICIEC has provided US$92.5 million as business insured and US$75.5 million as new insurance commitments.