Kuwaiti funds are turning their attention to Turkic projects. The Turkic Investment Fund has begun exploring joint financing with leading Kuwaiti financial institutions, while Kazakhstan has drawn separate interest as a potential long-term partner in food security, DKNews.kz reports.
The talks took place during a working visit to Kuwait by Baghdad Amreyev, President of the Turkic Investment Fund (TIF). Yerzhan Yelekeyev, Ambassador of the Republic of Kazakhstan to the State of Kuwait, also took part in the meetings.
TIF and Kuwait Fund Prepare Cooperation Memorandum
During a meeting with Rashid Al-Bader, Acting Director General of the Kuwait Fund for Arab Economic Development (KFAED), the sides discussed joint financing of infrastructure and other priority projects.
They also considered exchanging expertise between the two institutions.
Following the talks, an agreement was reached to sign a memorandum of cooperation between TIF and KFAED in the near future.
KFAED has operated since 1961. Over the course of its activities, the fund has financed more than 1,000 projects in over 100 countries, including Kazakhstan.
Fund With Around $1 Trillion in Assets to Explore TIF Projects
Baghdad Amreyev also held separate talks with Sheikh Saud Salem Abdulaziz Al-Sabah, Managing Director of the Kuwait Investment Authority (KIA).
The sides discussed opportunities to strengthen Kuwait’s investment and financial ties with the member states of the Turkic Investment Fund.
Infrastructure, transport and logistics, energy, and the financial sector were identified as promising areas.
The next stage will involve practical work to identify specific investment projects of mutual interest.
KIA is one of the world’s largest sovereign wealth funds. Its history dates back to 1953, while its assets under management are estimated at around $1 trillion.
No decision has yet been announced on KIA investing a specific amount in Kazakhstan or other TIF member states. The parties are currently moving toward identifying potential projects.
Kazakhstan Attracts Kuwait’s Attention on Food Security
Kazakhstan was discussed separately in the context of food security.
The sides highlighted the country’s considerable potential in this area. As Kuwait seeks to diversify its sources of food supplies, Kazakhstan is being considered as one of the promising partners for long-term cooperation and joint investment projects.
For Kazakhstan, this is the most concrete national angle of the visit: cooperation with Kuwaiti financial institutions may develop not only through broader TIF projects, but also around food security.
No specific supply volumes, investment amounts, or project lists were announced during the talks.
Arab Fund Joins Search for Joint Projects
Baghdad Amreyev also met with Fawzi Yousef Al-Hunaif, Director General of the Arab Fund for Economic and Social Development.
The sides discussed the priorities of the two institutions and prospects for co-financing projects.
They also expressed interest in developing cooperation with institutions of the Arab Coordination Group, potentially expanding the pool of financial partners for TIF initiatives.
The visit produced two concrete next steps: the planned memorandum between TIF and KFAED and the identification of specific investment projects with Kuwaiti institutions. For Kazakhstan, food security has emerged as an additional area of potential cooperation.
