By Azernews

Qabil Ashirov

President of the Islamic Development Bank (IsDB) Dr. Muhammad Al Jasser will be on an official visit to Azerbaijan from February 25 to March 3, Azernews reports, citing IsDB.

According to the bank, the intent of the visit is 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 visit will entail bilateral meetings at the highest level, including an audience with Azerbaijani President Ilham Aliyev, and discussions with cabinet ministers. In addition, the IsDB President will meet with the heads of major companies in Azerbaijan to deepen partnerships,” the bank noted.

Bank added, Dr. Al Jasser also plans to visit some projects funded by IsDB in Azerbaijan. Besides that, he will 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$1.2bn for Azerbaijan. This includes US$956m in financing by IsDB, US$120.2m approved by ICD, US$83.4m in trade operations by ITFC, and US$19.4m by other IsDB Group funds and operations. In addition, ICIEC has provided US$92.5m as business insured and US$75.5m as new insurance commitments, the bank says.?