Baku: President Ilham Aliyev has approved the Memorandum of Understanding between the Government of the Republic of Azerbaijan and the Islamic Development Bank Group. This agreement involves guarantees provided by Azerbaijan for the 2026 Annual Meetings of the IsDB Group. The Ministry of Economy of the Republic of Azerbaijan will represent the government in this initiative.

According to Azeri-Press News Agency, President Aliyev has already signed the corresponding law that puts this memorandum into effect. The agreement was initially signed on May 22, 2025, in Algiers, marking a collaborative step forward between Azerbaijan and the Islamic Development Bank Group.