BAKU, Azerbaijan, December 27. The Turkic Investment Fund (TIF) plans to increase its capital over the next five years, General Director of the Fund Ramil Babayev told Trend in an exclusive interview.
Babaev indicated that the present sanctioned capital of the fund stands at $600 million.
"Over the next five years, following the establishment of a solid project pipeline, we expect to increase our capital through share capital increases and access to international capital markets. With stronger resources, we will co-finance larger strategic projects and create more opportunities to bring in new investors. With the expected increase in our capital base, our capacity to lend and invest will grow significantly," he said.
Babaev added that over the next ten years, the fund expects growth in cross-border trade, increased investment volumes, and improved connectivity across the Turkic region. He also emphasized that the Turkic Investment Fund will actively participate in these processes by mobilizing international partners, financing larger projects, and helping member states strengthen their global competitiveness.
"We are building partnerships with international financial institutions, governments, and private investors. Our aim is to use our capital to bring in more funding for the same projects, reduce risks for partners, and attract new investment into priority areas," he concluded.
The decision to establish the Turkic Investment Fund was made on November 11, 2022, at the 9th Summit of the Turkic Council. The members of the fund are Azerbaijan, Hungary, Kazakhstan, Kyrgyzstan, Türkiye, and Uzbekistan. The goal of the fund is to promote the economic development of the member states of the Turkic Council by expanding regional trade and supporting economic activity.
The Board of Governors of the Turkic Investment Fund has set the deadline for the start of project financing by the end of the first quarter of 2026.