Baku: The chairmanship of the Board of Governors of the Islamic Development Bank (IsDB) has been officially transferred from the Republic of Azerbaijan to Burkina Faso during the conclusion of the IsDB Group Annual Meetings 2026 held on June 19. The transition took place during an event organized under the patronage of Azerbaijan's President, Ilham Aliyev.

According to Azeri-Press News Agency, the meetings provided a platform for reviewing strategic directions, achievements, and future priorities of the institutions within the IsDB Group. Key discussions focused on promoting inclusive economic growth, expanding sustainable financing mechanisms, and strengthening cooperation among member countries. Participants also deliberated on joint initiatives to achieve sustainable development goals amidst global economic challenges, while exploring ways to enhance investment and financing opportunities and deepen partnerships among member states.

A ceremony marking the transfer of the chairmanship to Burkina Faso was a highlight of the event. Additionally, it was announced that the next Annual Meetings of the Islamic Development Bank Group are scheduled to be held in Jeddah in 2027. This transition follows the decision made during the IsDB Board of Governors meeting held in Algiers from May 19-22, 2025, where Azerbaijan was entrusted with the chairmanship.