Kyrgyzstan ratifies agreement on establishment of Turkic Investment Fund

Kyrgyzstan ratifies agreement on establishment of Turkic Investment Fund
Photo credit: Mukhtor Kholdorbekov, Kazinform

President of Kyrgyzstan Sadyr Zhaparov signed the Law of the Kyrgyz Republic “On ratification of the agreement on the establishment of the Turkic Investment Fund signed on March 16, 2023 in the city of Ankara”, KABAR reports.

The law was adopted by the Kyrgyz Parliament on December 6, 2023.

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 support for economic activity.

An agreement on the establishment of the Turkic Investment Fund, signed on March 16, 2023 in the city of Ankara, provides for the establishment of the countries of the OTS of the Turkic Investment Fund with the authorized capital of $ 500 million.

The fund is a resource base for financing priority projects in the countries of OTS on preferential conditions.

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