Azerbaijan’s President Strengthens Ties with Arab Coordination Group Delegation Ahead of 2026 Islamic Development Bank Meetings
On June 18, 2026, President Ilham Aliyev of Azerbaijan welcomed a high-level delegation from the Arab Coordination Group (ACG) in Baku. This meeting coincided with the preparations for the upcoming 2026 Annual Meetings of the Islamic Development Bank Group, emphasizing the significance of collaboration between Azerbaijan and Arab financial institutions.
Key Participants in the Delegation
The delegation featured prominent figures, including H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, and Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development. Other notable attendees included Mr. Abdullah Khalil Al-Musaibeeh, President of the Arab Bank for Economic Development in Africa; Dr. Fahad Alturki, Director General and Chairman of the Board of the Arab Monetary Fund; and Mr. Sultan Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development.
Additionally, the delegation included finance ministers from several Arab nations: 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, among others.
Strengthening Cooperation
During the meeting, President Aliyev highlighted the critical role of ACG member institutions and Arab finance ministers in the upcoming Islamic Development Bank meetings. He noted the ongoing projects between Azerbaijan and the ACG, stressing the importance of forthcoming agreements that would enhance this cooperation.
Dr. Al Jasser expressed gratitude for the warm reception in Azerbaijan and acknowledged President Aliyev’s support for strengthening ties between Azerbaijan and the ACG. Both sides explored opportunities to expand their partnership, emphasizing Azerbaijan’s favorable investment climate as a catalyst for joint projects.
New Agreements Signed
Following the discussions, a loan agreement was finalized for the “Construction of the Sumgayit New Wastewater Treatment Facility.” Additionally, a Memorandum of Understanding was signed 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.”
Honors and Recognition
At the conclusion of the meeting, President Aliyev awarded the “Dostlug” — Friendship — Order to Dr. Al Jasser in recognition of his contributions to fostering cooperation between Azerbaijan and the Islamic Development Bank. Dr. Al Jasser expressed his sincere appreciation for this honor and the acknowledgment of his efforts to enhance collaboration.
About the Arab Coordination Group (ACG)
The Arab Coordination Group is a strategic alliance formed to facilitate coordinated responses to development finance. Established in 1975, the ACG has played a vital role in advancing economies and communities globally, providing over 13,000 development loans to more than 160 countries. The group aims to adopt best practices in sustainable development and align the efforts of its member institutions to achieve coherence in financing policies.
The ACG comprises ten national, regional, and international institutions, including the Abu Dhabi Fund for Development and the Islamic Development Bank.
For more information, visit the official website: www.zawya.com.
Read all the latest developments and breaking updates in the Latest News section.
Published on 2026-06-21 19:00:00 • By the Editorial Desk
