04 May 2022

Organization of Turkic States establishes its Investment Fund

The Organization of Turkic States in Istanbul hosted a meeting between senior officials of the ministries of economy and finance and other relevant institutions of the member states to establish a Turkic Investment Fund, reports “Dunyo” IA correspondent.

According to the Secretariat of the Organization of Turkic States, on November 12, 2021, in Istanbul, at the 8th Summit of the organization, a corresponding decision was made by the heads of member states. The details of the Framework Agreement on the establishment of the Turkic Investment Fund were discussed and the main elements of the Fund were agreed upon, including issues related to functions, powers, financial resources, organization and activities.

At the meeting, Secretary General of the Organization of Turkic States Baghdad Amreyev noted the need for completing the establishment process on time and expressed hope that the fund would start working before the end of the year, as planned.

Recall that following the results of the OTG Summit, it was decided to transfer the chairmanship of the organization to Azerbaijan and hold the first summit of the Organization of Turkic States in Uzbekistan in 2022.