Currently, the fund's authorized capital stands at $600 million. The fund aims to grow its capital by increasing the equity participation of member countries and entering international financial markets after establishing a sustainable project pipeline.
“Increasing our resources will allow us to co-finance larger strategic projects and open new opportunities for attracting investors. This will significantly expand our lending and investment capabilities,” noted Ramil Babaev.
He also added that over the next decade, the fund expects growth in cross-border trade, an increase in investment volumes, and improved connectivity in the Turkic region. The fund plans to actively participate in these processes by attracting international partners and financing significant projects aimed at enhancing the global competitiveness of the member states.
It is important to note that the establishment of the Turkic Investment Fund was decided on November 11, 2022, at the 9th summit of the Organization of Turkic States. The fund includes Azerbaijan, Hungary, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan, and its main goal is to promote the economic development of the Turkic states through the expansion of regional trade and support for economic activity.
