Turkic Investment Fund, Uzbek-Kyrgyz fund sign cooperation deal

The Turkic Investment Fund (TIF) and the Uzbek-Kyrgyz Development Fund (UKDF) have signed a memorandum of understanding to strengthen cooperation on regional development and investment initiatives, Report informs.

The agreement provides for the joint identification of promising projects, the promotion of regional connectivity, support for the private sector, and financing of initiatives in the green economy and sustainable development.

The two institutions also agreed to explore risk-sharing mechanisms and opportunities to support cross-border investments.

Under the memorandum, the funds will hold joint meetings at least once every six months to assess the progress of their cooperation and identify new areas for collaboration.

The Turkic Investment Fund was established by Turkic states to promote economic cooperation and sustainable development. The fund has an authorized capital of $600 million.