Baku: The opening ceremony of the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group was held in Baku, with President of the Republic of Azerbaijan Ilham Aliyev attending the event. The ceremony commenced with a family photo, followed by the playing of the National Anthem of the Republic of Azerbaijan and the recitation of a verse from the Holy Quran. A video about the IsDB was then screened before President Aliyev delivered his speech.
According to Azeri-Press News Agency, President Aliyev expressed gratitude to the IsDB Group for selecting Azerbaijan as the host country for the Annual Meeting, highlighting the strong bonds between the two. He acknowledged the visit of Dr. Al Jasser, Chairman of the IsDB Group, to Azerbaijan and the liberated territories, emphasizing the country's stable development and successful economic policies. President Aliyev underscored Azerbaijan's transformation into a significant energy supplier and transportation hub, thanks to extensive investments and reforms aimed at diversifying the economy.
The President further elaborated on Azerbaijan's independent foreign policy, which has garnered substantial international support, as demonstrated by the country's successful candidacies for international institutions. He highlighted Azerbaijan's efforts in regional development, energy security, and infrastructure projects, which have connected the Caspian Sea to various markets across Eurasia. The speech emphasized the need for continued economic diversification and reforms to reduce dependence on the energy sector.
President Aliyev also touched upon the restoration of Azerbaijan's territorial integrity and sovereignty, following the 2020 Patriotic War, and the subsequent peace with Armenia. He spoke of the large-scale reconstruction program in the liberated territories, with significant investments aimed at transforming Azerbaijan into a transportation hub and enhancing food security and renewable energy capacity.
Following President Aliyev's speech, Muhammad Sulaiman Al Jasser, Chairman of the IsDB Group, addressed the gathering, expressing gratitude to Azerbaijan for hosting the Annual Meetings. He highlighted the IsDB's commitment to supporting Azerbaijan's reconstruction and development efforts, with a focus on regional integration and sustainable prosperity. Al Jasser outlined the IsDB Group's response to global challenges, emphasizing the importance of solidarity and cooperation among member countries.
Mikayil Jabbarov, Azerbaijan's Minister of Economy and Chairman of the Board of Governors, also addressed the event, underscoring the strategic level of cooperation between Azerbaijan and the IsDB. He announced the signing of significant agreements, including the Framework (Loan) Agreement on the 'Reconstruction of the Garabagh Irrigation Canal' project and a Memorandum of Understanding for the preparation of the Country Partnership Strategy.
The opening ceremony concluded with the signing of these agreements, marking the beginning of the 2026 Annual Meetings of the Islamic Development Bank Group in Baku.