Azerbaijan’s President Ilham Aliyev Strengthens Ties with Arab Coordination Group Delegation Ahead of 2026 Islamic Development Bank Meetings
On June 18, President Ilham Aliyev of Azerbaijan welcomed a delegation from the Arab Coordination Group (ACG) in Baku. This meeting coincided with the 2026 Annual Meetings of the Islamic Development Bank Group, emphasizing the importance of collaboration between Azerbaijan and Arab financial institutions.
Key Delegation Members
The delegation included prominent figures such as H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group; Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development; and Mr. Abdullah Khalil Al-Musaibeeh, President of the Arab Bank for Economic Development in Africa. Other notable attendees were Dr. Fahad Alturki, Director General of the Arab Monetary Fund; Mr. Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development; and Mr. Hammam bin Nasser bin Juraied, Executive Director of the Arab Gulf Programme for Development.
The delegation also featured finance ministers from several Arab nations, including H.E. Mr. Mohammed bin Abdullah Al-Jadaan from Saudi Arabia, H.E. Mr. Yaqoub Al-Rifai from Kuwait, and H.E. Mr. Ali bin Ahmed Al Kuwari from Qatar. Additionally, Mr. Ali Abdullah Sharafi represented the United Arab Emirates as Assistant Undersecretary for International Financial Relations.
Strengthening Cooperation
During the meeting, President Aliyev highlighted the significance of the participation of ACG member institutions and Arab finance ministers in the upcoming meetings. He noted the ongoing projects between Azerbaijan and the ACG, emphasizing the necessity of signing relevant documents to further these initiatives.
Dr. Al Jasser expressed gratitude for the warm reception in Azerbaijan and acknowledged President Aliyev’s ongoing support for enhancing cooperation between Azerbaijan and the ACG. The discussions also focused on expanding partnerships and leveraging Azerbaijan’s favorable investment climate to facilitate joint projects.
New Agreements Signed
Following the meeting, a loan agreement was signed for the “Construction of the Sumgayit New Wastewater Treatment Facility” project. Furthermore, a Memorandum of Understanding was exchanged to enhance cooperation between Azerbaijan’s Ministry of Economy, the Azerbaijan State Water Resources Agency, and ACG members on the “Construction of Water Supply and Sewerage Systems for 33 Residential Settlements in the Absheron Peninsula.”
Recognition of Contributions
At the conclusion of the meeting, President Aliyev awarded the “Dostlug” — Friendship — Order to H.E. Dr. Muhammad Sulaiman Al Jasser in recognition of his efforts to foster cooperation between Azerbaijan and the Islamic Development Bank. Dr. Al Jasser expressed his sincere appreciation for this honor and the acknowledgment of his contributions to strengthening ties with the IsDB Group.
About the Arab Coordination Group (ACG)
The Arab Coordination Group (ACG) is a strategic alliance established in 1975 to provide a coordinated response to development finance. Over the years, it has played a crucial role in fostering economic development, having issued more than 13,000 development loans across 160 countries. The ACG aims to support developing nations and create a lasting positive impact through sustainable development practices.
The group comprises ten national, Arab regional, and international institutions, including the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, and the Islamic Development Bank, among others.
Source: www.zawya.com
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Published on 2026-06-20 23:37:00 • By the Editorial Desk
