The OTS (Organization of Turkic States) is preparing to launch its Investment Fund this year. The decision to create the fund was taken at the 9th summit of OTS, held in Samarkand, Uzbekistan, in November 2022.
Baghdad Amreyev, formerly the secretary general of OTS, was appointed as the first president of the Turkic Investment Fund.
It was announced during the summit that the Turkic Investment Fund will be the first and main joint financial institution established by the Turkic states and aims to mobilize the economic potential of member states of the Organization of Turkic States to strengthen the trade and economic cooperation between them and to implement joint projects.
The fund will mainly support small and medium-sized businesses (SMEs) by providing them finance through the fund’s assets as well as other competent financial institutions.”
Agriculture, logistics and transport, energy efficiency, renewable and alternative energy, industrial projects in manufacturing, information and communication technologies, tourism, infrastructure projects, public-private partnership projects, human development, creative industries, and natural and urban environment schemes would be among the preferred areas for the support and financing from the fund.
The OTS is an interstate bloc, established with the aim of expanding cooperation between Turkic-speaking countries in the fields of politics, economics, science, education, transport and tourism.
Its members are Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye and Uzbekistan. EU country Hungary, Turkmenistan and the Turkish Republic of Northern Cyprus (TRNC) have observer status. /// nCa, 2 March 2023