Turkic Investment Fund

During the 9th Summit of the Organization of Turkic States, held on November 11 in Samarkand, the Presidents of the Turkic states signed a special decision on the establishment of the Turkic Investment Fund. The Turkic Investment Fund, with a total initial authorized capital of US$ 500 million, is the first and main joint financial institution established by the Turkic states and will aim to mobilize the economic potential of the member states of the Organization of Turkic States to strengthen trade and economic cooperation between them and implement joint projects. The Turkic Investment Fund currently comprises five member states and two observer states. The member states are Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan. The observer states are Hungary and Turkmenistan. The Fund, the capital of which will be significantly increased in the coming years will pay great attention to supporting small and medium-sized businesses (SMEs) through financing from the Fund’s assets, as well as from other international financial organizations. The Fund's priorities will be to promote entrepreneurship, growth, job creation, research and innovation, and the socio-economic development of member states' institutions. The fund will support the following areas: -Agriculture (food industry, agribusiness, agricultural parks, etc.), Logistics and transport, -Energy efficiency, renewable and alternative energy sources, -Industrial projects related to production (textiles, motor vehicles, pharmaceuticals and medical equipment, aviation equipment, chemical industry, etc.), -Information and communication technologies, -Tourism, -Infrastructure development projects, -Implementation of government projects with the involvement of private capital, -Human development, -Creative industry (digital economy, cultural activities, music, cinema, design, etc.) -Startup projects and support of young entrepreneurs. -Natural and urban environmental plans (water, waste, etc.).