President of Kyrgyzstan Sadyr Japarov signed the law on the ratification of the agreement on the establishment of the Turkic Investment Fund. The press service of the head of state reported.
The document was adopted by the Parliament on December 6 last year.
The goal is to promote the economic development of member countries of the Organization of Turkic Speaking States (OTS) by expanding intra-regional trade and supporting economic activity.
The agreement provides for the establishment by the OTS countries of the Turkic Investment Fund (hereinafter referred to as the Fund) with an authorized capital of $500 million.
The Fund is a resource base for financing priority projects in the countries of the Organization of Turkic Speaking States on preferential terms.
The agreement on the establishment of the Turkic Investment Fund was signed on March 16, 2023 in Ankara.
