Tokayev Appoints Kazakhstan Representatives to Turkic Investment Fund

President Kassym-Jomart Tokayev has issued a decree, dated April 1, 2024, naming representatives of the Republic of Kazakhstan to serve on the Board of Governors of the Turkic Investment Fund.

Nurlan Serikovich Baybazarov, who serves as the Deputy Prime Minister and Minister of National Economy of Kazakhstan, has been appointed as the manager. Alongside him, Kenbeil Dauren Maratovich, the Vice Minister of Finance of Kazakhstan, will serve as the Deputy Manager.

The Turkic Investment Fund

The fund will be the first and main joint financial institution established by Turkic States and aims to mobilize the economic potential of Member States of the Organization Turkic States to strengthen the
trade and economic cooperation between them and to implement joint projects.

It will mainly support small and medium-sized businesses (SMEs) by providing them finance through the Fund’s assets as well as other competent financial institutions.

The priorities of the Fund will be fostering entrepreneurship, growth, job creation, research and innovation, socioeconomic development of the Member States.

The Fund shall support the following areas;
• Agriculture (food processing, agribusiness, agro parks etc.),
• Logistics and transport,
• Energy efficiency, renewable and alternative energy,
• Industrial projects in manufacturing (textile, motor vehicles, pharmaceuticals and medical equipment, aviation equipment, chemical etc.),
• Information and Communication Technologies,
• Tourism,
• Infrastructure projects,
• Public Private Partnership projects,
• Human development (education, health, research centres etc.)
• Creative industries (digital economy, cultural activities music, movie, design etc.)
• Natural and urban environment schemes (water, waste, clean air, urban transport etc.).


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