IsDB adopts resolution on Azerbaijan's membership of ICIEC

By Azernews

By Ayya Lmahamad

A resolution on Azerbaijan’s membership of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has been adopted at the 47th meeting of the IsDB Board of Executive Directors in Sharm El Sheikh, Egypt, Azernews reports, citing the Economy Ministry.

The 47th annual meeting of the IsDB Board of Executive Directors was held in Sharm El Sheikh on June 1-4. The Azerbaijani delegation was headed by First Deputy Economy Minister Elnur Aliyev. The annual meeting discussed topical issues such as building green and sustainable infrastructure, revitalizing national economics for sustainable development, and supporting human capital.

Within the meeting, the Azerbaijani delegation held a number of meetings, including with IsDB Vice President Mansur Muhtar. The parties exchanged views on cooperation in the reconstruction of Azerbaijan’s liberated lands, support for SMBs, financing banks, energy and food security.

Elnur Aliyev expressed gratitude to IsDB for supporting Azerbaijan and highly appreciated the cooperation with the bank.

Moreover, during the meeting with Director-General of the International Development Fund of the Organization of the Petroleum Exporting Countries Abdulhamid Alkhalifa, information on the national priorities for socio-economic development of Azerbaijan until 2030 was presented. Aliyev noted that Azerbaijan is interested in cooperation with international financial institutions within the set objectives, and stressed the need to expand ties in the development of priority areas.

The meeting was also held with International Islamic Trade Finance Corporation Head Hani Salem Sonbol. The sides discussed the cooperation with the corporation in the development of the country’s liberated lands, as well as the corporation’s role in enhancing the export potential of Azerbaijan, and agreed on further joint steps in this direction.