Istanbul – Board of Directors of the Turkic Investment Fund Convened in Istanbul
The third meeting of the Board of Directors of the Turkic Investment Fund (TIF) was convened in Istanbul on 20 December 2024, at the Fund’s new headquarters.
The meeting was chaired by H.E. Bagdat Amreyev, President and Chairman of the Board of Directors of TIF. Attendees included Mr. Ulvi Mansurov, Director from Azerbaijan; Mr. Gábor Matula, Director from Hungary; Mr. Marat Yelibayev, Director from Kazakhstan; Mr. Sanzharbek Bolotov, Designated Representative from the Kyrgyz Republic; Mr. Kerem Dönmez, Director from Türkiye; Mr. Ulugbek Mukhtarov, Alternate Director from Uzbekistan, as well as Mr. Ramil Babayev, General Director of TIF and Fund’s other staff members.
The agenda for this meeting was designed to address the key operational and financial aspects of TIFs activities, interim investment opportunities of the Fund and its other current priorities.
The Chairman of the Board of Directors, Bagdat Amreyev, delivered introductory remarks and provided an update to the Board members on TIF’s undertakings since the last meeting. He detailed the steps taken to finalize the establishment process of TIF. Additionally, he informed the Board about the status of TIF headquarters, management’s efforts in setting up its administration, and initiatives to strengthen its operational framework.
Mr. Amreyev also shared insights from his regular consultations with high-level government officials from member states, as well as TIF’s efforts to seek collaboration with international financial institutions to build constructive and mutually beneficial partnerships for TIF.
Members of the Board of Directors welcomed the initial steps taken for the commencement of TIF’s operational activities and emphasized the importance of the continued collaboration among member states to ensure the Fund’s success in achieving its objectives. They adopted the Fund’s quarterly financial statements for 2024, along with the TIF’s Budget Policy. The Board of Directors also reviewed the proposed TIF Budget for 2025 submitted by TIF management.
The Board of Directors concluded the meeting by reaffirming their commitment to advancing the objectives of TIF. With determining key policies and financial plans, the TIF is poised to enter a new phase of growth and operational effectiveness in the coming year.
