According to Uzbekistan’s Chamber of Commerce and Industry, the proposal to increase the fund’s capital by 20% was discussed during a conference held in Baku.
The additional funds will be allocated to business development and the implementation of projects aimed at boosting trade turnover among Turkic states.
It is worth noting that the Turkic Investment Fund began operations in May last year, with an initial capital set at $500 million.
The agreement to establish the fund was signed on March 16, 2023, in Ankara during an extraordinary summit of the Organization of Turkic States. The founding countries include Kazakhstan, Azerbaijan, Kyrgyzstan, Uzbekistan, and Türkiye.
