TIF and Kuwait Fund Signed Memorandum of Understanding

The Turkic Investment Fund (TIF) and the Kuwait Fund for Arab Economic Development (KFAED) signed a Memorandum of Understanding (MoU) on 14 October 2026, on the margins of the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok, Thailand.

The MoU was signed by H.E. Baghdad Amreyev, President of TIF, and Mr. Rashaid A. Al-Bader, Acting Director General of KFAED. The agreement follows discussions held during President Amreyev’s visit to Kuwait City on 10 August 2026.

Under the MoU, the two institutions will exchange information and expertise, explore joint financing opportunities, and consider technical assistance for development projects in countries where both operate. They also committed to maintaining regular contact as they explore possible joint projects.

During the signing ceremony, H.E. Baghdad Amreyev thanked Mr. Al-Bader and his colleagues for their work in preparing the agreement. He also thanked the Kuwait Fund for its longstanding support for development, including in TIF Member States, and expressed hope that the agreement would lead to joint projects.

Mr. Rashaid A. Al-Bader expressed the Kuwait Fund’s readiness to work with TIF on financing development projects in Central Asia. He noted that the Kuwait Fund has financed development projects in 107 countries, supporting economic development and better living conditions. He also invited TIF to share its investment pipeline with the Kuwait Fund so that the two institutions could identify suitable projects for joint consideration.

The discussions also touched upon the proposed electricity project in the Shirin Shaharcha development in Samarkand, Uzbekistan. Mr. Al-Bader informed the TIF delegation that the Kuwait Fund had approved a grant for the project’s feasibility study. B. Amreyev expressed TIF’s interest in exploring possible participation in the project.

Mr. Ramil Babayev, General Director of TIF, talked about practical arrangements for cooperation with the Kuwait Fund, including the exchange of project pipelines and possible approaches to joint financing.

The TIF delegation also included Mr. Mehmet Esat Mert, Acting Chief Financial Officer, and Dr. Erhan Türbedar, Senior Advisor to the President of TIF for Economic Affairs. The Kuwait Fund delegation included Mr. Thamer Al-Failakawi, Director of the Operations Department, and Mr. Yousef G. Al-Bader, Superintendent for East, South Asia and Pacific Countries Affairs, Operations Department.