BAKU, Azerbaijan, December 27. The Turkic
Investment Fund (TIF) plans to increase its capital over the next
five years, General Director of the Fund Ramil Babayev told
Trend in an
exclusive interview.
Babaev indicated that the present sanctioned capital of the fund
stands at $600 million.
"Over the next five years, following the establishment of a
solid project pipeline, we expect to increase our capital through
share capital increases and access to international capital
markets. With stronger resources, we will co-finance larger
strategic projects and create more opportunities to bring in new
investors. With the expected increase in our capital base, our
capacity to lend and invest will grow significantly," he said.
Babaev added that over the next ten years, the fund expects
growth in cross-border trade, increased investment volumes, and
improved connectivity across the Turkic region. He also emphasized
that the Turkic Investment Fund will actively participate in these
processes by mobilizing international partners, financing larger
projects, and helping member states strengthen their global
competitiveness.
"We are building partnerships with international financial
institutions, governments, and private investors. Our aim is to use
our capital to bring in more funding for the same projects, reduce
risks for partners, and attract new investment into priority
areas," he concluded.
The decision to establish the Turkic Investment Fund was made on
November 11, 2022, at the 9th Summit of the Turkic Council. The
members of the fund are Azerbaijan, Hungary, Kazakhstan,
Kyrgyzstan, Türkiye, and Uzbekistan. The goal of the fund is to
promote the economic development of the member states of the Turkic
Council by expanding regional trade and supporting economic
activity.
The Board of Governors of the Turkic Investment Fund has set the
deadline for the start of project financing by the end of the first
quarter of 2026.
