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.