President Kassym-Jomart Tokayev approves agreement on establishment of Turkic Investment Fund
Kassym-Jomart Tokayev approved the agreement on the establishment of the Turkic Investment Fund, whose charter capital will be estimated at US$500 million. The headquarters is planned to open in Istanbul. The Turkic Investment Fund will operate for 20 years from the date of its founding meeting. The decision on its termination or extension may be taken by the Board of Governors at any time. The fund will have the status of an international financial institution, with Kazakhstan, Azerbaijan, Kyrgyzstan, Turkey and Uzbekistan as founding members. The countries agreed on the establishment of the Turkic Investment Fund at the Summit of the Organization of Turkic States held in Samarkand in November 2022.