The Turkic Investment Fund has announced the start of its financing activities, APA’s Istanbul correspondent reports.
On Friday, the Board of Governors of the Turkic Investment Fund announced that the Fund had begun its operational activities and that its financing activities would start by the end of the first quarter of 2026.
According to the information, this decision marks the transition of the Fund from its establishment phase to the stage of operational implementation of financing activities.
The meeting was held in Bishkek at the invitation of the President of the Kyrgyz Republic, Sadyr Japarov, and was hosted by Kyrgyzstan’s Minister of Economy and Trade, Bakyt Sydykov.
It should be noted that the Turkic Investment Fund is the first international financial institution jointly established by the Turkic states with a mandate to finance projects across member countries.
The purpose of the Fund is to support the strengthening of economic ties between the Turkic states through the expansion of trade, improvement of connectivity, and increase of cross-border investments.
The Board stated that the decision to launch the Fund’s operational activities responds to growing expectations regarding the utilization of resources and the advancement of priority projects in the member countries.
During its second session in Bishkek, the Board of Governors approved the Fund’s annual report and final audited financial statements for 2024, adopted the internal rules of the Board, and reaffirmed the Fund’s preferred creditor status.
The Fund has also held initial consultations with several regional and international financial institutions to lay the groundwork for future co-financing mechanisms.
Uzbekistan’s Minister of Investment, Industry, and Trade, Laziz Kudratov, was elected Chairman of the Board of Governors. Azerbaijan’s Minister of Economy, Mikayil Jabbarov, was elected Deputy Chairman.
Both will serve in these roles until the next annual meeting.
The Board also agreed to consider holding the third annual meeting in Tashkent in the second half of 2026.
It should be noted that the President of the Turkic Investment Fund is Bagdad Amreyev, and the Chief Executive Officer is Mr. Ramil Babayev.
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