Baku: The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, has signed 21 agreements with Azerbaijan involving several financial institutions and commercial banks. These agreements were finalized during the private sector forum held in Baku, aiming to foster cooperation with Azerbaijan's private sector.

According to Saudi Press Agency, Europe, Central Asia, and Azerbaijan represent the largest share of ICD's financing portfolio. A significant portion of the corporation's operations is dedicated to trade finance, underscoring its commitment to enhancing economic activities in these regions.

The ICD focuses on achieving measurable outcomes, with clearly defined objectives set before project implementation. Continuous monitoring of impact is maintained throughout the execution phase, and a final evaluation is conducted upon project completion to ensure objectives are met.

The corporation's engagements extend to all commercial banks and non-banking financial institutions. This includes leasing companies, development banks, and investment and financing organizations, reflecting ICD's comprehensive approach to supporting various financial entities within Azerbaijan's private sector.