Azerbaijan to Chair the Board of Governors of the Turkic Investment Fund

October 23, 2026 20:06

A meeting of the Board of Governors of the Turkic Investment Fund held in Tashkent discussed ways to expand the Fund’s operations and strengthen investment cooperation among member countries.

The next meeting of the Board of Governors of the Turkic Investment Fund was held in Tashkent, the capital of Uzbekistan. Azerbaijan was represented at the meeting by First Deputy Minister of Economy Elnur Aliyev.

The meeting highlighted the Fund’s importance in strengthening economic integration across the Turkic world, promoting mutual investments and implementing joint projects. Participants reviewed efforts to organize the Fund’s operations, expand financing opportunities and enhance cooperation with international financial institutions.

First Deputy Minister of Economy Elnur Aliyev shared Azerbaijan’s experience in establishing bilateral investment funds with partner countries. He also outlined proposals to strengthen cooperation between the Turkic Investment Fund and these funds and to establish joint financing mechanisms. Support for cross-border projects and small and medium-sized enterprises (SMEs), trade financing and the promotion of lending in national currencies were identified as priority areas. The importance of enhancing operational efficiency and strengthening corporate governance within the Fund was also emphasized.

At the meeting, it was decided that Azerbaijan would assume the chairmanship of the Board of Governors until the end of the next annual meeting, while Hungary would assume the vice-chairmanship.

It should be noted that the Turkic Investment Fund (www.turkicfund.org) is an international financial institution established under the founding agreement signed in Ankara in 2023. Its purpose is to expand economic cooperation, mutual investments and regional trade among member countries. The Fund’s members are Azerbaijan, Türkiye, Kazakhstan, Kyrgyzstan, Uzbekistan and Hungary. The Fund supports small and medium-sized enterprises, infrastructure development and the financing of joint projects.