Within the framework of participation in the OPEC Fund for International Development Forum held in Vienna, discussions were held on Azerbaijan’s cooperation with the Abu Dhabi Fund for Development, the Islamic Development Bank Group, and the OPEC Fund for International Development.
Minister of Economy Mikayil Jabbarov visited Vienna, the capital of Austria, to participate in the OPEC Fund for International Development Forum. Within the framework of the visit, a series of meetings were held.
Minister of Economy Mikayil Jabbarov met with Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development (ADFD), which is part of the Arab Coordination Group. During the meeting, the expansion of economic and trade relations between Azerbaijan and the United Arab Emirates (UAE) was emphasized. The UAE’s investments in Azerbaijan’s renewable energy sector and the Fund’s support for infrastructure projects in the country were noted. Information was provided on Azerbaijan’s economic potential and favorable business environment. The parties reviewed cooperation opportunities in energy, infrastructure, innovation, and other areas. Investment prospects of the Fund in Azerbaijan’s priority sectors were also discussed.
During the meeting with Muhammad Suleiman Al-Jasser, President of the Islamic Development Bank Group, it was noted that successful cooperation has been established with the institutions within the Group. The effective partnership with the Bank was emphasized in terms of sustainable growth and infrastructure development. Information was provided about the economic reforms and priorities being implemented in Azerbaijan. The parties discussed the expansion of joint activities, development of the country’s private sector, the hosting of the Islamic Development Bank Group’s Annual Meeting in Azerbaijan in 2026, and other agenda items.
During the meeting with Abdulhamid Al Khalifa, President of the OPEC International Development Fund, it was noted that mutual cooperation contributes to the diversification of Azerbaijan’s energy sector. Opportunities for collaboration in renewable energy, infrastructure, and technical assistance were evaluated.
Within the framework of the meeting, a Country Partnership Framework Document was signed between the Ministry of Economy and the OPEC International Development Fund. Covering the years 2025–2030, the document envisages support for state and private sector projects in industries such as manufacturing, renewable energy, transportation, infrastructure, and other areas. The initiatives to be implemented under this document are of significant importance in terms of climate finance, inclusive growth, and the development of small and medium-sized enterprises.
