Establishment of the Turkish States Investment Fund

 Establishment of the Turkish States Investment Fund

ISTANBUL – Senior officials of the Turkish International Organization have approved the “Turkish Investment Fund Establishment”, while after completing the internal procedures, the constitutional agreement will be signed by the economy / finance ministers of the participating countries, most likely during an extraordinary summit of the leaders of the Turkish countries, scheduled for mid-Min. March in Ankara.

Press Release of the Turkish Investment Fund mentioned :”President of the Turkish Investment Fund (TIF) Baghdad Amreev held an online final meeting of senior officials of TIF member states on the foundation of the Fund”.

“The meeting was attended by Mr. Kanat Abdulrahmanov, Deputy Minister of Economy of the Kyrgyz Republic; Mrs. Mulayim Akhundov, Director of the Ministry of Economy of the Republic of Azerbaijan; Mr. Tebrik Babayev, Chief Advisor to the Minister of Economy of Azerbaijan; Mr Yerzhan Abish, Head of the Department of International Economic Cooperation of the Ministry of National Economy Republic of Kazakhstan; Mr. Kerem Donmez, Director General of Foreign Economic Affairs the relations of the Ministry of Treasury and Finance of Turkey, Mrs. Bengu Aitekin, Deputy Director General for Foreign Economic Relations of the Ministry of Finance and Finance of Turkey and Mr. Sardor Ruziev, Head of the Legal Department of the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan”, The PR added.

The participants completed the discussion and approved the “Agreement on the establishment of the Turkic Investment Fund”.

“After completed internal procedures, the Constitutional Agreement will be signed by the economy/finance ministers of the participating states presumably during an extraordinary summit of the leaders of Turkic states, scheduled for mid-March in Ankara”, The PR added

The Turkish Investment Fund, with a starting capital of $500 million, will be the first and foremost joint financial institution created by Turkic states, aimed at mobilizing the economic potential of the member states of the Organization of Turkic States, in order to strengthen trade and economic cooperation and implementation of joint projects. The Fund’s priorities will be promoting entrepreneurship, growth, job creation, research and innovation, socio-economic development of member states, and supporting small and medium businesses (SMEs) through the provision of financial resources through the Fund.

Dr. Abdul Rahim

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