Tehran – 7 September 2026
The Economic Cooperation Organization (ECO), the ECO Trade and Development Bank (ETDB) and Islamic Development Bank (IsDB) held the first session of the trilateral Joint Working Group, hosted virtually by the ECO Secretariat in Tehran, underscoring their shared commitment to deepening cooperation in support of regional eonomic development.
Briefing the meeting, Mr. Faizrakhman Kassenov, Head of the Project Management Section at the ECO Secretariat, acknowledged the key role of ETDB and IsDB in supporting and financing ECO’s ongoing and upcoming regional projects, and highlighted the potential of closer trilateral cooperation to advance regional economic activities and connectivity.
Mr. Murad Yandiev, Manager, Investor Relations, Islamic Corporation for the Development of the Private Sector (ICD), while appreciating IsDB’s active collaboration with ECO since signing of the MoU in 1993, expressed readiness to exploring the possibility of enhancing cooperation with ECO Secretariat in various priority areas, including trade and investment and transport connectivity, through trilateral MoU with collaboration of ECO-TDB.
Mr. Fazli Sak, Director (Policy and Compliance Department) of ECO-TDB and his team actively participated in the meeting and also supported the idea of this new trilateral mechanism between ECO, ECO-TDB and IsDB.
The session discussed the first draft of the proposed trilateral Memorandum of Understanding, as the three institutions expressed keen interest in strengthening joint efforts to identify and support high-impact regional projects, and agreed to work closely together toward finalizing the MoU.
