Azerbaijan and Arab Coordination Group Sign Key Development Agreements

Riyadh: President Ilham Aliyev of Azerbaijan welcomed a delegation of heads from Arab Coordination Group (ACG) member institutions, as well as Arab finance ministers, who were in Baku for the 2026 Annual Meetings of the Islamic Development Bank (IsDB) Group. During the meeting, Aliyev commended the growing collaboration between Azerbaijan and the ACG member institutions, which is facilitating various development projects in the region. According to Saudi Press Agency, IsDB Group Chairman Dr. Muhammad Al Jasser expressed gratitude for the reception and acknowledged Azerbaijan's support in deepening cooperation with the ACG. The discussions focused on enhancing the partnership to support joint development initiatives. In a significant development following the talks, both parties signed a loan agreement aimed at constructing a new wastewater treatment plant in Sumgait. Additionally, a memorandum of understanding was reached to boost collaboration on water supply and sanitation systems for 33 residential settl ements on the Absheron Peninsula.