Baku, Republic of Azerbaijan, 19 June 2026 – The 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group concluded today in Baku, Azerbaijan, marking a significant milestone in advancing development cooperation under the theme “Regional Integration for Sustainable Prosperity.” The meetings culminated in the signing of 67 agreements totaling US$6 billion with 10 member countries, regional institutions, and private-sector partners. 

Held over four days, the Annual Meetings brought together more than 4,400 participants from 78 countries, including 46 heads of institutions, alongside policymakers, development practitioners, private sector leaders, and academics. The gathering featured 32 high-level meetings and knowledge-sharing events, focusing on critical global challenges, including connectivity, trade, energy, food security, climate action, digital transformation, and private sector development. 

The Annual Meetings concluded with a press conference, co-chaired by H.E. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the IsDB Board of Governors, and H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group. 

In his concluding remarks, H.E. Mr. Mikayil Jabbarov expressed appreciation to H.E.  Mr. Ilham Aliyev, President of the Republic of Azerbaijan, for his patronage and support of the Annual Meetings, reflecting Azerbaijan’s commitment to multilateral cooperation and shared prosperity among IsDB Group Member Countries. He also thanked H.E. Dr. Muhammad Al Jasser for his leadership and partnership, noting that the theme “Regional Integration for Sustainable Prosperity” aligns closely with Azerbaijan’s vision as a bridge connecting regions, markets, and cultures. 

Reflecting on the outcomes of the 2026 Annual Meetings in Baku, the Chairman of the IsDB Board of Governors expressed pride in the signing of the US$436 million financing agreement between the IsDB and the Republic of Azerbaijan for the Reconstruction of the Garabagh Irrigation Canal Project. He described it as a transformative investment that will strengthen water security, support agricultural revival, and lay out the foundations for long-term sustainable livelihoods in the region. 

Meanwhile, IsDB Group Chairman, H.E. Dr. Muhammad Al Jasser, in his closing remarks, expressed profound appreciation to H.E. Mr. Ilham Aliyev, President of the Republic of Azerbaijan, for his highest patronage of the meetings, and to the Government and people of Azerbaijan for their exceptional hospitality and organization. Dr. Al Jasser also expressed his deep honor at receiving the prestigious Friendship Order from President Ilham Aliyev, describing it as a recognition of the dedication and hard work of all IsDB Group staff. He further commended the leadership of H.E. Mikayil Jabbarov, Minister of Economy and Chairman of the IsDB Board of Governors, for guiding the deliberations toward actionable outcomes. 

Furthermore, the IsDB Group Chairman acknowledged the contributions of member country governors, executive directors, partners, and delegates, as well as the dedication of IsDB Group staff and organizers who contributed to the success of the event. 

Addressing members of the media, H.E. Dr. Al Jasser highlighted that the outcomes of the meetings reflect a strong alignment between strategic ambition and operational delivery. H.E. Dr. Al Jasser underscored that the agreements signed in Baku reaffirm the IsDB Group's unwavering determination to deliver high-impact development solutions across its member countries.  

He also noted that the IsDB approved US$2.8 billion in new financing for nine transformative projects that will enhance connectivity, energy security, food systems, Islamic Finance, climate resilience, and multiple Sustainable Development Goals across nine member countries.  

The IsDB Group Chairman noted that this year’s meetings represent a pivotal moment in the implementation of the IsDB Group’s Strategic Framework 2026–2035 and its Five-Year Corporate Strategies (2026–2030). He emphasized that the Baku meetings mark the transition from strategic direction-setting to concrete execution and measurable impact. 

Throughout the week, discussions reinforced the importance of regional integration as a driver of economic resilience, shared prosperity, and sustainable growth. Participants emphasized the need to accelerate investment in cross-border connectivity, strengthen value chains, and expand innovative financing solutions to address evolving development challenges. 

As the 2026 Annual Meetings concluded, the IsDB Group reaffirmed its commitment to strengthening partnerships, scaling up financing, and delivering tangible development results that improve the lives of communities across its member countries. 

The next IsDB Group Annual Meetings will be held in Jeddah, Kingdom of Saudi Arabia, under the chairmanship of Burkina Faso, and will once again bring development partners and peers together to advance shared development goals.