Baku, Azerbaijan – 19 June 2026 — Under the high patronage of H.E. Ilham Aliyev, President of the Republic of Azerbaijan, the 2026 Islamic Development Bank (IsDB) Group Annual Meetings officially opened in Baku.

The opening ceremony brought together senior government officials, IsDB Group leadership, and delegates from the Group’s 57 member countries. H.E. President Aliyev welcomed participants and expressed appreciation for the leadership of H.E. Dr. Muhammad Al Jasser and the IsDB Group’s continued support for Azerbaijan’s reform and development priorities.

He noted that when Azerbaijan resumed access to development financing, the IsDB was the first development institution it approached, reflecting the strength of the relationship and constructive cooperation between the two sides. He also highlighted Azerbaijan’s progress in economic diversification and its growing role as a regional hub for connectivity, transport, energy security, and trade.

H.E. Mr. Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan and Chairman of the IsDB Board of Governors, emphasized the strategic depth of the partnership between Azerbaijan and the IsDB Group. He said the Annual Meetings in Baku reflect the two sides’ shared commitment to sustainable development, regional integration, and long-term prosperity.

Mr. Jabbarov also congratulated H.E. Dr. Muhammad Al Jasser on his renewed election as Chairman of the IsDB Group, describing it as a renewed mandate that reflects the confidence of the Group’s member countries in Dr. Al Jasser’s leadership.

In his keynote speech, Dr. Al Jasser thanked H.E. President Ilham Aliyev, the government, and the people of Azerbaijan for their hospitality and excellent preparations. He also expressed gratitude to the Kingdom of Saudi Arabia for nominating him for a second term and to the Governors for their endorsement and continued trust.

“This renewed confidence further strengthens our determination to advance the IsDB Group. As always, our approach will be guided by nationally led solutions, with investments aligned with the priorities and development aspirations of our member countries. Our direction is clear: deliver at scale, deliver with excellence, and deliver as one unified Group,” he said.

Speaking on the theme of the 2026 Annual Meetings, “Regional Integration for Sustainable Prosperity,” Dr. Al Jasser highlighted Azerbaijan’s historic role in connecting East and West, North and South, and described the country’s journey as one of resilience, renewal, and shared opportunity.

He reaffirmed the enduring partnership between Azerbaijan and the IsDB Group since the country joined the Bank in 1992, noting that the Group has approved approximately US$1.8 billion for 84 projects across infrastructure, energy, agriculture, and social services in the country.

Dr. Al Jasser also pointed to the Group’s financial performance in 2025, when total financing approvals increased by 20 percent to nearly US$16 billion and disbursements reached US$11 billion, compared with US$9.2 billion in 2024. He said cumulative approvals since the Group’s inception now stand at approximately US$209 billion, supported by continued financial discipline, the IsDB’s AAA credit rating, and the successful issuance of US$5 billion in sukuk.

He stressed that the true measure of development lies in the impact on people’s lives, citing improvements in access to services, mobility, and community well-being across several member countries. He said development should be judged by the opportunities it creates and the dignity it restores.

Looking ahead, Dr. Al Jasser outlined the Group’s strategic direction under its Ten-Year Strategic Framework (2026-2035), anchored in originality, solidarity, and intergenerational prosperity, as well as its new Five-Year Corporate Strategies (2026-2030).

He also highlighted the launch of the IsDB Concessional Fund, which is now operational and supporting a new generation of high-impact projects while helping vulnerable countries address urgent development challenges. He called on member countries to continue contributing to the Fund to ensure that no member country is left behind in the development process.

Dr. Al Jasser further emphasized the IsDB Group’s continued focus on productivity-enhancing infrastructure, human capital development, water and food security, cross-border connectivity, trade facilitation, and private sector development, while strengthening South-South cooperation. He said the Group would continue to align its interventions with national priorities and leverage Islamic finance instruments, knowledge solutions, and capacity development programs to deepen regional integration and unlock new growth opportunities.

Concluding his remarks, Dr. Al Jasser said that in a world marked by uncertainty, fragmentation, and rising vulnerabilities, solidarity is not optional but essential. He called for translating solidarity into collective action and meaningful support for countries and communities facing fragility and hardship.

He reaffirmed the Group’s commitment to delivering tangible improvements in people’s lives. “Let us leave Baku knowing that –through our collective efforts– a child will access education, a mother will deliver safely, a farmer will secure a better livelihood, and a vulnerable community will look to the future with greater hope and confidence.”

For further information and program updates, please visit the official Annual Meetings website: IsDB Group Annual Meetings.

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