Baku, July 29, AZERTAC
The Turkic Investment Fund (TIF) and the National Investment Agency under the President of the Kyrgyz Republic (NIA) signed a Memorandum of Understanding (MoU) to strengthen cooperation in promoting and facilitating investment in the Kyrgyz Republic.
The Memorandum was signed in Bishkek between Ramil Babayev, General Director of TIF, and Ravshanbek Azatovich Sabirov, Head of the National Investment Agency under the President of the Kyrgyz Republic on the sidelines of the business forum “Kyrgyzstan – Uzbekistan: Industrial Cooperation, Investment and Trade”.
Under the terms of the Memorandum of Understanding, NIA will support TIF in identifying and implementing investment projects in the Kyrgyz Republic. For its part, TIF intends to mobilize financial resources, facilitate cross-border investment and support investment projects that advance economic integration and sustainable development across its member states, with particular focus on the Kyrgyz Republic.
The partnership will focus on joint project identification, facilitation of investor access to opportunities in the Kyrgyz Republic, and the exchange of information in support of TIF's regional investment pipeline.
Ramil Babayev, General Director of TIF, stated: "The Kyrgyz Republic is a strategic priority for the Turkic Investment Fund. We are committed to building a strong pipeline of high-quality investment projects in the country. Our partnership with the National Investment Agency will help us identify opportunities early, structure them effectively, and mobilize long-term financing to turn promising opportunities into impactful investments."
TIF and NIA agreed to remain in close contact to review implementation of the Memorandum and to advance concrete investment opportunities in the Kyrgyz Republic.
Note: The Turkic Investment Fund (TIF) is the first dedicated international financial institution jointly established by the Turkic states focusing on fostering economic cooperation, increasing intra-regional trade and sustainable development across the Turkic world. The Establishment Agreement of TIF was signed at the Extraordinary Summit of the Organization of Turkic States (OTS) in Ankara on March 16, 2023, and came into force in February 24, 2024.
With a 600 million USD authorized capital to be utilized for shared growth and prosperity, TIF is a platform for enabling impactful investments, innovative solutions, and regional integration by the grand Turkic vision focusing on the “Economic Integration of the Turkic World”.