Turkic Investment Fund to start financing projects in Q1 2026

BAKU. Dec 8 (Interfax) - The Turkic Investment Fund (TIF) will begin financing projects in the first quarter of 2026, the Economy Ministry of Azerbaijan reported, citing a decision made at the second meeting of the fund's board of governors in Bishkek on December 5.

"The start of the fund's investment activity will accelerate regional development and even further expand investment partnership between member countries of the Organization of Turkic States (OTS)," the ministry said in a press release.

The agreement on the creation of the TIF was signed at an OTS summit in Ankara in 2023. The fund has capital of $600 million, with each member country - Azerbaijan, Turkmenistan, Kazakhstan, Uzbekistan, Kyrgyzstan and Hungary - contributing $100 million.

The fund's activities will be aimed at supporting joint projects in various sectors, including infrastructure, renewable energy, agriculture, tourism and information technology, among others.