The Qatar Development Fund (QFFD) has expressed its desire to expand cooperation with the Turkic Investment Fund (TIF), particularly in Turkic-speaking states, including Central Asian countries.
According to the "Report" agency, QFFD's Director-General, Fahad Hamad Al-Sulaiti, raised this issue during his meeting with TIF's President, Bagdat Amreyev. Based on Al-Sulaiti's statement, the parties will prioritize projects in energy, natural resources, and export enhancement at the initial stage.
TIF President Bagdat Amreyev expressed his practical support for the proposed cooperation, suggesting that activities be structured around forming a joint project portfolio, structuring, and financing. He also proposed an initiative to identify short and medium-term priority areas.
The participating parties agreed on technical cooperation. As a first step of cooperation, the signing of a Memorandum of Understanding is planned, followed by the preparation of a pilot project package in line with the priorities of both organizations.
The parties also intend to coordinate their activities using the platform of the Arab Coordination Group as cooperation expands.
It is worth recalling that the Turkic Investment Fund was established by a decision made at the 2022 Summit of the Organization of Turkic States (OTS) in Samarkand. The fund's establishment agreement was signed in Ankara in 2023 by Azerbaijan, Kazakhstan, Kyrgyzstan, Turkey, and Uzbekistan and entered into force in February 2024. With Hungary joining the fund, TIF's charter capital increased by $100 million, reaching $600 million. The fund plans to further increase its capital over the next five years.
https://report.az/energetika/qeter-inkisaf-fondu-tif-ile-birlikde-turkdilli-olkelerde-enerji-layihelerini-maliyyelesdirmeye-hazirdir