Kuwait Fund for Arab Economic Development and Turkish Investment Sign MoU to Enhance Cooperation
The Kuwait Fund for Arab Economic Development and the Turkish Investment Fund signed a memorandum of understanding in Bangkok to enhance financial and technical cooperation.
Translated by Qiyas from السياسة — Original source
The initiative aims to coordinate activities, exchange technical expertise, and explore funding opportunities for development projects.
The Kuwait Fund for Arab Economic Development signed a memorandum of understanding with the Turkish Investment Fund, "Turkic," to enhance cooperation between the two institutions through the coordination of activities and exchange of technical expertise, in accordance with the policies, priorities, and mandates of each.
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The memorandum of understanding was signed by Rashid Al-Badr, Acting Managing Director of the Kuwait Fund for Arab Economic Development, and Baghdad Amriyev, President of the Turkish Investment Fund "Turkic," on the sidelines of the 2026 Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok, the capital of Thailand.
In a statement to the Kuwait News Agency (KUNA) on Wednesday, Al-Badr said that the areas of cooperation include a number of activities aligned with the operational policies and strategic objectives of both institutions, particularly in countries where both parties are active. A key aspect is the early identification of projects that could receive support from the two institutions through financing, technical assistance, or both, in accordance with the policies and working methods adopted by each.
He added that the cooperation areas also include periodic consultations to coordinate operations and activities in fields that allow for such coordination, as well as the exchange of information and knowledge, and leveraging the expertise, resources, and capabilities available to both sides.
He clarified that this memorandum reflects the Kuwait Fund’s commitment to expanding its international partnerships and strengthening cooperation with development institutions, thereby contributing to the exchange of expertise and exploring new opportunities for cooperation in funding and supporting development projects of shared priority.
The signing was attended by Margulan Baimukhan, Ambassador of Kazakhstan to Thailand and Permanent Representative of Kazakhstan to the United Nations Economic and Social Commission for Asia and the Pacific.
It is worth noting that the Turkish Investment Fund ("Turkic") is the first specialized international financial institution established jointly by the member states of the Organization of Turkic States, which includes Turkey, Azerbaijan, Kazakhstan, Uzbekistan, and Kyrgyzstan. Its founding agreement was signed in 2023.
The Turkish Investment Fund "Turkic" aims to enhance economic and trade cooperation and support sustainable development among member states by financing strategic projects and strengthening collaboration with international financial and development institutions.
