The Islamic Development Bank (IsDB) has invested $1.3 billion in various projects across Azerbaijan since the beginning of its cooperation with the country, according to Muhammad Sulaiman Al Jasser, Chairman of the IsDB Group.

Speaking at the 51st Annual Meetings of the Islamic Development Bank Group, held under the theme “Regional Integration for Sustainable Prosperity” in Baku, Al Jasser noted that the institution consistently encourages its member states to strengthen cooperation with neighboring countries, The Caspian Post reports, citing AZERTAC.

“The Islamic Development Bank always calls on member countries to cooperate with neighboring countries. Since the beginning of our cooperation with Azerbaijan, we have invested $1.3 billion in projects,” he said.

Al Jasser also highlighted the importance of Azerbaijan’s transport and logistics infrastructure. Recalling his most recent visit to Baku, he said he toured the Alat Free Economic Zone and praised its role in expanding the country’s trade potential.

“During my last visit to Baku, I visited the Alat Free Economic Zone. This infrastructure contributes to the expansion of the country’s export and import opportunities,” the IsDB Chairman stated.

He added that initiatives of this kind help address some of the logistical challenges faced by landlocked countries by improving connectivity and facilitating trade flows.