The Turkic Investment Fund Operating at Full Capacity from January

According to the Kyrgyz Chamber of Commerce and Industry, the Turkic Investment Fund is set to begin financing large joint projects in January 2025.

The fund was established in March 2023 at the summit of the Organisation of Turkic States (OTS) and includes capital from Turkey, Azerbaijan, Uzbekistan, Kyrgyzstan and Kazakhstan. Turkish President Recep Tayyip Erdogan was the initiator of the financial institution.

The main focus of the investment fund will be on providing preferential financing for joint infrastructure and industrial projects, supporting small businesses, developing renewable energy, and granting funds for social projects.

Initially, the authorised capital of the fund was planned to be $500 million but was later increased to $1 billion. The founding states own an equal number of shares in the fund and make duplicate payments.

The agreement stipulates that the fund will exist for 20 years, with the possibility of extending its work by mutual agreement of the parties.

Kursiv Uzbekistan also reports that Turkish investors will establish haemodialysis centres in Uzbekistan.