President of the Republic of Azerbaijan H.E. Ilham Aliyev received, on June 18, a delegation comprising the heads of member institutions of the Arab Coordination Group (ACG) (https://TheACG.org), as well as Arab Ministers of Finance and senior officials participating in the 2026 Annual Meetings of the Islamic Development Bank Group in Baku.
The delegation included H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group; Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development; Mr. Abdullah Khalil Al-Musaibeeh, President of the Arab Bank for Economic Development in Africa; Dr. Fahad Alturki, Director General and Chairman of the Board of the Arab Monetary Fund; Mr. Sultan Abdulrahman Al-Marshad, Chief Executive Officer of the Saudi Fund for Development; Mr. Hammam bin Nasser bin Juraied, Executive Director of the Arab Gulf Programme for Development; and Mr. Thamer Al-Failakawi, Director of Operations at the Kuwait Fund for Arab Economic Development.
The delegation also included H.E. Mr. Mohammed bin Abdullah Al-Jadaan, Minister of Finance of the Kingdom of Saudi Arabia; H.E. Mr. Yaqoub Al-Rifai, Minister of Finance of the State of Kuwait; H.E. Mr. Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar; and Mr. Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations at the Ministry of Finance of the United Arab Emirates.
During the meeting, President Ilham Aliyev underscored the importance of the participation of the heads of ACG member institutions and Arab Ministers of Finance in the 2026 Annual Meetings of the Islamic Development Bank Group. He also highlighted the strong and active cooperation between Azerbaijan and the member institutions of the Arab Coordination Group, noting that several projects are currently under implementation and stressing the importance of the documents to be signed in this regard.
Expressing gratitude for the gracious welcome extended in Azerbaijan, H.E. Dr. Muhammad Sulaiman Al Jasser conveyed the delegation’s appreciation to President Ilham Aliyev for the reception. He also expressed his high appreciation for the President’s continued support for strengthening cooperation between Azerbaijan and the Arab Coordination Group.
The two sides reviewed the broad opportunities available to further expand the partnership between Azerbaijan and ACG member institutions. They also underlined the importance of Azerbaijan’s favorable investment climate in supporting the implementation of joint projects with the member institutions of the Arab Coordination Group.
Following the meeting, and in the presence of the President of Azerbaijan, a loan agreement was signed for the “Construction of the Sumgayit New Wastewater Treatment Facility” project. In addition, a Memorandum of Understanding was exchanged to expand cooperation between the Ministry of Economy of the Republic of Azerbaijan, the Azerbaijan State Water Resources Agency, and members of the Arab Coordination Group on the “Construction of Water Supply and Sewerage Systems for 33 Residential Settlements in the Absheron Peninsula” project.
At the conclusion of the meeting, President Ilham Aliyev presented the “Dostlug” — Friendship — Order to H.E. Dr. Muhammad Sulaiman Al Jasser, in recognition of his contribution to the development of cooperation between Azerbaijan and the Islamic Development Bank.
H.E. Dr. Muhammad Sulaiman Al Jasser expressed his sincere gratitude to the President of the Republic of Azerbaijan for this high distinction and for the appreciation shown for his efforts to strengthen cooperation between Azerbaijan and the IsDB Group.
Distributed by APO Group on behalf of Arab Coordination Group (ACG).
About the Arab Coordination Group (ACG):
The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, the ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. The ACG works across the globe to support developing nations and create a lasting, positive impact. The Arab Coordination Group (ACG) is considered one of the most important and effective development partnerships at the international level. The group actively works to adopt the best global practices in sustainable development work. It also aims to align the efforts of these institutions to achieve convergence and harmonization in the policies governing their financing operations.
The Group comprises 10 national, Arab regional, and international institutions, including the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development. www.TheACG.org
