Saudi Fund for Development focused on cooperation with Azerbaijan in transportation – executive director

RIYADH, Saudi Arabia, April 27. Saudi Fund for
Development (SFD) is focused on cooperation with Azerbaijan in the
sphere of transportation, SFD Executive Director of the Strategy
Sector Dr. Abdullah Al-Sakran told Trend on the sidelines of the Islamic
Development Bank Group (IsDB) annual meetings in Riyadh.

“Azerbaijan is now under the umbrella of the initiative that is
about connection between Asia and Europe.Azerbaijan makes linkage between Asia and Europe and we focus now
on transportation sector,” he said.

As for the cooperation for development of the Middle Corridor,
he said this depends on the requirements of the country.

“As per our previous discussions with the Azerbaijani
government, we are focused on roads. Our priority is to engage with
governments on food security, climate action, water management,
digitalization. We welcome any request from the Azerbaijani
government in these sectors. If the Azerbaijani government lists
its priorities, we are ready to discuss,” he said.

Al-Sakran noted that the Fund provides loans to countries under
the umbrella of cooperation for development.

“Roads are one of the elements of food security. So broadly,
cooperation on transportation also covers food security,
agriculture, reducing the time of transportation,” he
explained.

The Islamic Development Bank Group (IsDB) is holding its 2024
Annual Meetings and Golden Jubilee in Riyadh from April 27-30,
under the Royal Patronage of the Custodian of Two Holy Mosques,
King Salman Bin Abdulaziz Al-Saud.

The 2024 Annual Meetings are being held under the theme of
“Cherishing our Past, Charting our Future: Originality, Solidarity
and Prosperity”, which marks IsDB’s 50 years of fostering
socio-economic development in its member countries.

Among other topics, the meetings will also feature roundtable on
COP29 with participation of Azerbaijani government
representatives.

As the premier South-South multilateral development Bank, the
2024 IsDB Group Annual Meetings and Golden Jubilee are expected to
attract international and regional attention. The Annual Meetings
will feature a series of side events with top-level panelists from
government, international and regional organizations, the private
sector, academia, and civil society.Ministers of Economy, Planning, and Finance from IsDB’s 57 member
countries will participate in the event, along with representatives
of international and regional financial institutions, Islamic
banks, private sector companies, national and international
development finance institutions, international and regional
organizations, NGOs, chambers of commerce & Industry, and business
councils.