BSTDB and Turkic Investment Fund Strengthen Cooperation on Regional Investment and Development
Memorandum of Understanding sets a framework for cooperation in connectivity, trade, energy, MSME finance and private-sector development
The Black Sea Trade and Development Bank (BSTDB) and the Turkic Investment Fund (TIF) signed a Memorandum of Understanding (MoU) to strengthen institutional cooperation and explore opportunities for joint engagement in areas of mutual interest.
The MoU was signed on the margins of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok, Thailand, by Dr. Serhat Köksal, President of BSTDB, and Baghdad Amreyev, President of TIF.
The agreement provides a framework for cooperation in areas including regional and cross-border connectivity, infrastructure, renewable energy and energy efficiency, energy security, trade finance, MSME and private-sector development, digital infrastructure, agribusiness and other productive-sector investments.
BSTDB and TIF will explore opportunities to identify projects of mutual interest, exchange information, cooperate on project preparation and structuring, and consider potential co-financing and parallel-financing opportunities. The two institutions may also work together to mobilise private capital and share knowledge and experience.
“Regional cooperation is central to BSTDB’s mandate. This Memorandum of Understanding provides a practical framework for exploring cooperation with the Turkic Investment Fund in areas where our institutions have shared interests, including connectivity, trade, energy and private-sector development. We look forward to identifying concrete opportunities where our respective strengths can support investment and economic development across our regions,” said Dr. Serhat Köksal, President of BSTDB.
“The Turkic Investment Fund places particular importance on investments that strengthen economic links among its Member States. Azerbaijan and Türkiye are members of both institutions, and there may be opportunities for us to finance projects in these countries. This agreement gives our teams a basis to exchange information and consider projects that fit the priorities of both institutions. We hope these contacts will lead to cooperation on specific investment projects,” said H.E. Baghdad Amreyev, President of TIF.
The Turkic Investment Fund (TIF) is an international financial organization established under the Agreement Establishing the Turkic Investment Fund dated 16 March 2023, comprising Azerbaijan, Hungary, Kazakhstan, Kyrgyzstan, Türkiye and Uzbekistan, with the purpose of supporting economic cooperation, trade, investment, connectivity, sustainable development and private sector development among its member states. To learn more about the Turkic Investment Fund, visit www.turkicfund.org
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org
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