Turkic Investment Fund will be a part of development of the Middle Corridor, Baghdad Amreyev, President of the Turkic Investment Fund, told Trend one the sidelines of the event “Turkic Investment Fund and the Union of Chambers of Commerce and Industry of Turkic Countries (TCCI): information meeting and B2B for business leaders”.
“The Turkic Investment Fund is going to actively participate in financing infrastructure projects in our Turkic world. Middle Corridor is one of the most important infrastructure projects and logistics, so we will definitely be part of this project,” he said.
Amreyev further noted that it will be the first year of the Fund’s operational activity.
“In the first year we will mostly prioritize joint projects between our governments and financial institutions,” he explained.
The Middle Corridor is a transportation and trade route that connects Asia and Europe, passing through several countries in the region. It is an alternative route to the traditional Northern Corridor and Southern Corridor.
The route starts in China and crosses Central Asian countries such as Kazakhstan, Uzbekistan, and Turkmenistan. It then passes through the Caspian Sea, Azerbaijan, Georgia, and Türkiye before reaching Europe. The Middle Corridor offers a land route that connects the eastern parts of Asia, including China, with Europe, bypassing the longer maritime routes.
The Turkic Investment Fund (TIF), the first mutual financial institution among Turkic States, was established by an agreement signed at the Extraordinary Summit of the OTS in Ankara on 16 March 2023.
The fund mobilizes the economic potential of OTS member states, strengthening trade and investment cooperation and supporting joint projects that drive regional development.
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.
