Turkic Investment Fund and Kuwait's KFAED agree to sign cooperation memorandum
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TIF and KFAED agreed to sign a cooperation memorandum after talks in Kuwait. Separate negotiations with Kuwait Investment Authority covered infrastructure, transport, logistics, energy and finance, with no decision on a concrete investment amount. Kazakhstan was discussed as a prospective long-term food-security partner, but no supply volumes, investment amounts or project lists were named.
Key Facts
- TIF and KFAED agreed to sign a cooperation memorandum in the near future after talks in Kuwait.
- KFAED, founded in 1961, has financed more than 1,000 projects in over 100 countries, including Kazakhstan.
- Kuwait Investment Authority, one of the world's largest sovereign wealth funds, manages about $1 trillion in assets and discussed infrastructure, transport, logistics, energy and finance with TIF.
- KIA has not decided to invest a specific amount in Kazakhstan or other TIF countries; the next stage is practical search for concrete projects.
- Kazakhstan was discussed as a prospective long-term food-security partner as Kuwait seeks to diversify supply sources, but no supply volumes, investment amounts or project lists were named.
Cooperation Memorandum
TIF President Baghdad Amreev held talks with KFAED acting director Rashid Al-Bader during a working visit to Kuwait. The sides discussed joint financing of infrastructure and other priority projects. They also agreed to exchange experience between the two institutions. Following the talks, TIF and KFAED reached an agreement to sign a cooperation memorandum in the near future. KFAED has operated since 1961 and has supported more than 1,000 projects in more than 100 countries, including Kazakhstan.
Kuwait Investment Authority Talks
Amreev held separate negotiations with Kuwait Investment Authority managing director Sheikh Saud Salem Abdulaziz Al-Sabah. The sides examined opportunities to strengthen Kuwait's investment and financial ties with member states of the Turkic Investment Fund. Promising areas named included infrastructure, transport and logistics, energy and the financial sector. KIA, one of the world's largest sovereign wealth funds, dates to 1953 and manages about $1 trillion in assets. No decision has been made for KIA to invest a specific amount in Kazakhstan or other TIF countries; the sides are moving to project selection.
Food Security Angle
Kazakhstan was discussed separately in the context of food security. Negotiators noted the country's potential as Kuwait seeks to diversify its food supply sources. Kazakhstan is viewed as one of the promising partners for long-term cooperation and joint investment projects. Kazakhstan's ambassador to Kuwait Yerzhan Elekeyev took part in the meetings. Specific supply volumes, investment sums and a project list were not named at the talks.
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Turkic Investment Fund and Kuwait's KFAED agree to sign cooperation memorandum
