Deputies of the Senate of the Kazakh Parliament approved the law "On ratification of the Agreement on the establishment of the Turkic Investment Fund."
The initial capital of the Turkic Investment Fund will be $500 million. The obligatory share will be $350 million, that is, $70 million for each country (Kazakhstan, Azerbaijan, Türkiye, Uzbekistan and Kyrgyzstan). All members with equal shares will have an equal vote.
The Turkic Investment Fund will promote the economic development of member states of the Organization by expanding inter-regional trade and supporting economic activity.
The agreement on the establishment of the Fund was signed within the framework of an extraordinary summit of the Heads of State of the Member States of the Organization of Turkic States on March 16, 2023, in Ankara.
