AIIB and Azerbaijan Strengthen Partnership to Build a Sustainable, Connected Future

In a significant step in accelerating sustainable development and regional cooperation, the Asian Infrastructure Investment Bank (AIIB) and the Republic of Azerbaijan signed a joint declaration to elevate their partnership.

Mikayil Jabbarov, Minister of Economy of Azerbaijan, and Konstantin Limitovskiy, AIIB Chief Investment Officer, Region 2, signed the Joint Declaration on Strategic Cooperation (Joint Declaration) in a ceremony witnessed by H.E. Ilham Aliyev, President of the Republic of Azerbaijan, and Jin Liqun, AIIB President and Chair of the Board of Directors.

The Joint Declaration aligns with Azerbaijan's national vision, as outlined in its "2030 National Priorities for Socio-Economic Development," and AIIB's core mission of financing "Infrastructure for Tomorrow." The enhanced cooperation aims to establish a dynamic, multi-year investment program for AIIB sovereign-backed financing. The program will focus on three pillars: financing cutting-edge, climate-resilient infrastructure that drives decarbonization and supports national climate goals; developing next-generation transport, energy and digital infrastructure to solidify Azerbaijan's role as a vital international trade and logistics corridor; and catalyzing private-sector investment by creating innovative financing models and fostering an enabling environment for public-private partnerships. A core overall objective will be to address climate-change challenges and contribute to global climate goals.

H.E. Ilham Aliyev, President of the Republic of Azerbaijan, said: "We are pleased with the current state of relations and the successful cooperation between Azerbaijan and the AIIB. We see more opportunities of collaboration in areas such as the Middle Corridor (railroad, road, ports), metro, water management and sanitation, renewable energy, digitalization etc. This Joint Declaration set a good mechanism to expand our collaboration into a new era. We welcome this strengthened partnership."

Jin Liqun, President and Chair of the Board of AIIB, stated: " Azerbaijan, as a founding member of AIIB, has been a valued partner since the beginning. AIIB is committed to further supporting the country's development and recognizes its significant growth potential. The Joint Declaration reflects our shared intention to develop a multi-year investment program that promotes an interconnected future. AIIB looks forward to working with Azerbaijan to support its national priorities and advance infrastructure that contributes to sustainable development and shared prosperity domestically and across the region."

About AIIB

The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing "Infrastructure for Tomorrow," with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity.