Kyrgyzstan ratifies agreement on establishment of Turkic Investment Fund

Kyrgyz President Sadyr Zhaparov signed the Law "On Ratification of the Agreement on Establishment of the Turkic Investment Fund signed on March 16, 2023 in Ankara".

The law was adopted by the Kyrgyz Parliament (Jogorku Kenesh) on December 6, 2023, Caliber.Az reports citing Kyrgyz media.

The purpose of the Law is to promote the economic development of the member states of the Organization of Turkic Speaking States (OTS) by expanding intra-regional trade and supporting economic activities.

The Agreement on the Establishment of the Turkic Investment Fund, signed on March 16, 2023, in Ankara, provides for the establishment of the Turkic Investment Fund (the Fund) with the authorized capital of 500 million US dollars by the OTS countries.

The Fund is a resource base for financing priority projects in the OTS countries on preferential terms.