The 14th Private Sector Forum of the Islamic Development Bank Group concluded in Baku with agreements and memoranda of understanding worth more than $4.7 billion aimed at strengthening investment, trade and private sector growth across member countries.
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Held from June 16 to 19 at the Baku Convention Center in Baku, the forum took place alongside the Group’s annual meetings under the patronage of Ilham Aliyev.
The event attracted more than 1,400 participants from 60 countries and included local, regional and international business leaders, investors, financial institutions and government representatives. The programme featured 17 events and panel discussions, involving more than 70 speakers and 40 exhibitors.
Organisers also presented the annual Private Sector Award for the fourth consecutive year, recognising companies and financial institutions for contributions to economic development, trade facilitation, investment and risk management.
In addition, the forum hosted a startup competition with participation from more than 220 startups and business incubators. More than 250 business-to-business and business-to-government meetings were held to encourage partnerships and investment opportunities.
Speaking at the opening session, Mohammed Al Jasser said the private sector plays a central role in development and stressed the importance of reducing risks and expanding access to finance and trade.
Meanwhile, Dr Khaled Yousef Khalafallah, Chief Executive Officer of Islamic Corporation for the Insurance of Investment and Export Credit and acting CEO of Islamic Corporation for the Development of the Private Sector, highlighted efforts to bridge financing gaps and support sustainable development initiatives.
The forum also showcased financing tools available through the IsDB Group, including trade support, investment insurance, export credit and private sector financing aimed at promoting long-term economic growth.
