TURKIC INVESTMENT FUND HELD ITS THIRD BOARD OF GOVERNORS MEETING

Tashkent, 22 October 2026 – The Board of Governors of the Turkic Investment Fund (TIF) gathered for its third annual meeting held in Tashkent under the Chairmanship of H.E. Laziz Kudratov, Minister of Investment and Industry and Trade of the Republic of Uzbekistan, a member of the Board of Governors of TIF.

The meeting was presided over by Mr. Khurram Teshabaev, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan, who was designated by the Board of Governors to chair the session.

The meeting reviewed the Fund’s progress since the second session of the Board of Governors and considered priorities for the next stage of its institutional and operational activities.

H.E. Baghdad Amreyev, President of the Turkic Investment Fund, delivered his Statement to the Board and shared with the Governors the Fund’s principal activities, achievements, and strategic developments.

The Board heard the presentation of the Executive Management made by Mr. Ramil Babayev, General Director, that covered partnerships concluded, progress in financing activities, the development of the project, and the Fund’s financing priorities for the year ahead.

The Board of Governors approved the Fund’s Annual Report for 2025, including its audited financial statements. The Board adopted the Rules of rotation of the high Management of the Fund, appointed the external auditor, and approved the Fund’s further institutional development.

The Board elected the Governor of Azerbaijan as Chairman and the Governor of Hungary as Vice-Chairman, both to serve until the next annual meeting. The Board also decided to hold its fourth annual meeting in Azerbaijan in 2027.

The meeting brought together representatives of the Fund’s six member states: Mr. Khurram Teshabaev, Alternate Governor for Uzbekistan and Deputy Minister of Investment, Industry and Trade; Mr. Elnur Aliyev, Alternate Governor for Azerbaijan and First Deputy Minister of Economy; Dr. Gábor Matula, Alternate Governor for Hungary and Deputy State Secretary at the Ministry of Economy and Energy; Mr. Dauren Kengbeil, Alternate Governor for Kazakhstan and Vice Minister of Finance; Mr. Bakyt Sydykov, Governor for the Kyrgyz Republic and Minister of Economy and Commerce; and Mr. Kerem Dönmez, Temporary Alternate Governor for Türkiye and Director General for Foreign Economic Relations.

The Third Meeting of the Board of Governors also marked a farewell for H.E. Baghdad Amreyev, the first President of the Turkic Investment Fund, on the occasion of the conclusion of his four-year mandate and his recent election as Deputy Secretary General of the Organization of Islamic Cooperation.

B. Amreyev expressed his sincere gratitude to the Presidents of TIF Member States, who instructed and entrusted him with the establishment of TIF, appointing him on 11 November 2022 as the First President of the Fund to accomplish this extremely high mission.

He said he remains fully confident that the Fund will continue to grow, successfully serving the shared interests and driving the economic integration of the Turkic States. He thanked the Governments of the Member States, the Governors, the Board of Directors, the Executive Management and Fund’s staff for their support and joint efforts.