ICD Signs 21 Agreements with Azerbaijan to Support Private Sector

Jeddah, May 8, 2026, SPA -- The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, signed on Thursday 21 agreements with Azerbaijan involving several financial institutions and commercial banks, as part of its cooperation with the private sector. The agreements were concluded on the sidelines of the private sector forum held in Baku.

The corporation stated that Europe, Central Asia, and Azerbaijan represent the largest share of its financing portfolio, with a significant portion of operations focused on trade finance.

It emphasized that its activities are centered on achieving measurable results, with objectives defined prior to project implementation, continuous monitoring of impact throughout execution, and final evaluation upon completion.

The corporation noted that its engagements cover all commercial banks and non-banking financial institutions, including leasing companies, development banks, and investment and financing organizations.