Kyrgyzstan Ratifies Turkic Investment Fund Agreement
Kyrgyzstan Ratifies Agreement on Turkic Investment Fund
Kyrgyzstan has officially ratified the Agreement on the establishment of the Turkic Investment Fund, in a move aimed at fostering economic development and cooperation within the member states of the Organization of Turkic-Speaking States (OTG).
The law to ratify the Agreement was signed by President Sadyr Zhaparov, following its adoption by the Kyrgyz Parliament on December 6, 2023. The Agreement, which was signed on March 16, 2023 in Ankara, seeks to promote economic growth by expanding intraregional trade and supporting economic activities among member states.
The Turkic Investment Fund will have an authorized capital of $500 million, which will be divided into 10 thousand shares with a par value of $50,000 each. This fund will serve as a resource base for financing priority projects in the OTG countries on preferential terms, in an effort to stimulate growth and development within the region.
With Kyrgyzstan’s ratification of the Agreement, it is expected that the Turkic Investment Fund will play a key role in driving economic cooperation and investment within the Turkic-speaking world.
The establishment of this Fund represents a significant step towards enhancing economic ties and collaboration among the member states of the OTG. This move reflects a commitment to strengthening economic development and trade within the region, and marks a positive development in the ongoing efforts to foster greater prosperity and cooperation among Turkic-speaking nations.
