Approval to Turkish Investment Fund from Azerbaijan

The Azerbaijani Milli Majlis approved the agreement on the establishment of the Turkish Investment Fund. The fund aims to promote the economic development of the Turkish States.

In today’s session of the Azerbaijan National Assembly, the draft law on the acceptance of the Turkish Investment Fund Establishment Agreement was discussed.

The draft on the establishment of the fund, whose founders are Turkiye, Azerbaijan, Kazakhstan, Uzbekistan and Kyrgyzstan, was accepted in the National Assembly.

The bill will enter into force after the approval of Azerbaijani President Ilham Aliyev.

The fund, whose capital will be $500 million at the first stage, will be managed from Istanbul.

The Fund will support trade and economic cooperation between members in the organization of Turkish states.

Source: Trthaber / Prepared by Irem Yildiz

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