Jeddah: Financing worth $436.67 million has been approved for Azerbaijan at the 364th meeting of the Board of Executive Directors of the Islamic Development Bank, APA-Economics reports, citing the bank. The funds are intended to increase agricultural productivity and significantly reduce water losses in irrigation systems.

According to Azeri-Press News Agency, the project will contribute to sustainable rural development and will be implemented in line with Azerbaijan's development priorities through 2030. The initiative is set to promote green growth, strengthen resilience to climate change, and support long-term food security.

It should be noted that the decision was adopted at the IsDB meeting held in Jeddah and forms part of the bank's strategy to support sustainable and inclusive economic growth in its member countries.