Amreyev appointed head of Turkic Investment Fund

ISTANBUL

Baghdad Amreyev, who has completed his office as the secretary-general of the Organization of Turkic States, has been appointed as the president of the Turkic Investment Fund.

During the ninth summit of the Organization of Turkic States held in Samarkand on Nov. 11, the presidents of Turkic States signed a special decision on the establishment of the Turkic Investment Fund.

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 Turkic States to strengthen the trade and economic cooperation between them and to implement joint projects, according to the statement.

It 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.

The priorities of the fund will be fostering entrepreneurship, growth, job creation, research and innovation and socioeconomic development of the member states.

The fund will support a wide range of areas, including agriculture, logistics and transport, energy efficiency, renewable and alternative energy and industrial projects in manufacturing, tourism and infrastructure projects and Public- Private Partnership projects.

Meanwhile, Kubanychbek Omuraliev, Kyrgyzstan’s ambassador to Türkiye, was appointed as the organization’s new secretary-general.