IsDB allocates $436.7 mln to cut irrigation losses and boost agriculture in Azerbaijan

The Islamic Development Bank (IsDB) has approved $436.67 million in financing for Azerbaijan to reduce irrigation water losses and increase agricultural productivity, aligning with the country’s “Azerbaijan 2030: national priorities for socio-economic development” framework, AzerNEWS reports citing the bank.

According to IsDB, the project will support sustainable rural development while promoting green economic growth, strengthening climate resilience, and enhancing long-term food security.

In a statement, the bank said the approved initiatives reflect its strategic focus on sustainable and inclusive growth, addressing key challenges across infrastructure, energy, water resources, transport, and industrial development to deliver lasting impact and advance the Sustainable Development Goals (SDGs).

The IsDB Board of Executive Directors also approved $2.41 billion in total financing for transformational projects at its 364th meeting, chaired by Mohammed Al-Jassir, underscoring the bank’s commitment to regional cooperation and climate-friendly investment across member countries.