Islamic Development Bank, or IDB for short, is an international financial institution whose financing is based on Islamic principles. It is one of the world's leading financial and credit institutions. Its members are Muslim countries. The purpose of the bank is to ensure the economic development and social progress of the bank's member countries (Muslim countries represented in its founding and membership) and individual Muslim societies on the basis of Islamic law. The main function of the bank is to provide financial assistance to member states in the form of financing projects for economic and social development, participation or investment in the private capital of enterprises, granting grants and loans. Cooperation with IDB started in 1992. In 2007, he was appointed the Bank's local representative for Azerbaijan.
About the projects implemented by the Islamic Development Bank in Azerbaijan
Project name: |
Purpose |
Period of performance |
Executive organization |
Comprehensive Rural Development Project |
Reducing poverty in the villages of Agdash, Yevlakh, Sheki and Oguz regions through improving food security and income generation opportunities. |
2012-2020 |
AKİA |