ALMATY, Kazakhstan, June 26. The Turkic
Investment Fund gives priority to projects aimed at promoting
Turkic integration, the Chief Investment Officer (CIO) of the
Turkic Investment Fund (TIF), Sanjar Usmanov, told Trend on the sidelines of the
Eurasian Development Bank (EDB) Annual Meeting and Business Forum
in Almaty.
“We have a portfolio of projects. Until they are finally
approved by the board of directors, we cannot disclose specific
names or details. Work is underway. It may not always be visible
from the outside, but I can confidently say that the process is
moving forward,” Usmanov noted.
According to him, the fund is paying particular attention to
projects that promote the integration of Turkic states.
“We see great potential, and it is likely that at a certain stage,
it will become necessary to consider increasing the fund’s
capital,” Usmanov added.
The Turkic Investment Fund is the first specialized
international financial institution established by Turkic-speaking
states with the aim of strengthening economic cooperation,
expanding mutual trade, and promoting sustainable development
throughout the Turkic world.
At the 9th Summit of the Organization of Turkic States (OTS),
held on November 11, 2022, in Samarkand, the heads of state decided
to establish the Turkic Investment Fund and appoint its president.
The agreement to establish the fund was signed at an extraordinary
OTS summit in Ankara on March 16, 2023, and entered into force on
February 24, 2024. The fund’s authorized capital is $600
million.
