Baku: The chairmanship of the Board of Governors of the Islamic Development Bank (IsDB) was handed over from the Republic of Azerbaijan to Burkina Faso on the final day of the IsDB Group Annual Meetings 2026 on June 19, APA-Economics reports.

According to Azeri-Press News agency, the event was organized within the framework of the IsDB Group Annual Meetings held under the patronage of President of the Republic of Azerbaijan Ilham Aliyev. During the meetings, strategic directions, achievements, and future priorities of the institutions comprising the IsDB Group were reviewed. Discussions underscored the importance of promoting inclusive economic growth, expanding sustainable financing mechanisms, and strengthening cooperation among member countries.

The participants exchanged views on joint initiatives aimed at achieving sustainable development goals amid global economic challenges, increasing investment and financing opportunities, and further deepening partnerships among member states. As part of the event, a ceremony was held to officially transfer the chairmanship of the Islamic Development Bank Board of Governors to Burkina Faso.

It was noted that the next Annual Meetings of the Islamic Development Bank Group will be held in Jeddah in 2027. This transition follows the meeting of the IsDB Board of Governors held in Algiers on May 19-22, 2025, where the chairmanship was initially entrusted to the Republic of Azerbaijan.