Baku: Since Azerbaijan became a member of the Islamic Development Bank in 1992, within the framework of a cooperation spanning over 30 years, the Islamic Development Bank Group has provided financing in the amount of approximately 1.8 billion US dollars in our country, including key sectors of the economy - agriculture, energy, water resources, transport and financial services, Azerbaijan's Minister of Economy, Mikayil Jabbarov, said at a press conference organized within the framework of the Islamic Development Bank Annual Meetings held in Baku, APA-Economics reports.

According to Azeri-Press News agency, the minister noted that most of the financed projects have already been completed. He highlighted that the ongoing partnership has resulted in significant developments across various sectors essential to Azerbaijan's economic growth.

The minister further emphasized that currently, 11 projects with a total value of $635.9 million are in the implementation phase. These projects are expected to further boost the country's infrastructure and economic capabilities, contributing to sustained growth and development.

The Islamic Development Bank Group's commitment to Azerbaijan underscores a longstanding relationship aimed at fostering economic progress and addressing developmental challenges through strategic financial investments.