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The Board of Governors of the Turkic Investment Fund (TIF) announced Friday that the institution has officially begun its operational activities, marking the transition from its establishment phase to the implementation of financing operations in the first quarter of 2026.
The decision was made during a board meeting in Kyrgyzstan’s capital, Bishkek, TIF said in a statement. The move signifies a key milestone for the first international financial institution jointly established by Turkic countries.
The Fund aims to strengthen economic cooperation among member states by promoting trade, improving connectivity, and fostering cross-border investment.
“Launching operational activities addresses growing expectations among member states for the institution to start deploying resources and advancing key projects,” the statement said.
During its second session, the Board approved TIF’s 2024 annual report and audited financial statements, adopted the Board of Governors’ rules of procedure, and reaffirmed the Fund’s preferred creditor status.
The governors noted that most of the institutional framework required for operations was finalized in 2025 through close coordination among member countries. Preparations for the project pipeline are now underway, and financing is expected to commence as the operational framework takes effect in early 2026.
TIF has also held initial talks with regional and international financial institutions to establish a foundation for future co-financing partnerships.
Uzbekistan’s governor and Minister of Investment, Industry, and Trade, Laziz Kudratov, was elected chairman of the board, while Azerbaijan’s governor and Economy Minister Mikayil Jabbarov was elected vice chairman. Both will serve until the next annual meeting.
The board also agreed to consider holding its third annual meeting in Uzbekistan’s capital, Tashkent, in the second half of 2026.
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