BAKU, Azerbaijan, December 25. Investing in the Trump Route for International Peace and Prosperity (TRIPP) could contribute to strengthening economic integration across the Turkic region, General Director of the Turkic Investment Fund Ramil Babayev told TurkicWorld in an exclusive interview.
“We align our efforts with the priorities of our Member States, including Azerbaijan and other Turkic countries. One of the most strategic opportunities is TRIPP. This corridor is critical because it provides direct access from Central Asia to Europe, passing through Türkiye. By investing in this route, we can significantly reduce transportation costs and increase intra-regional trade volumes, strengthening economic integration across the Turkic world”, he said.
Babayev noted that for Azerbaijan, Karabakh remains a national priority, and that the Fund is actively discussing how it can contribute to increasing prosperity for the region and its people. He said there are several bankable sectors and implementable projects in Karabakh that can drive growth and development.
In addition, he said that the Fund is exploring energy security projects in the country to ensure stable and sustainable energy flows across the region. Customs digitalization is another key area of focus, as it will streamline trade processes, reduce bottlenecks, and enhance connectivity.
“Through these initiatives, we aim to deliver tangible benefits boosting trade, improving infrastructure, and fostering innovation while supporting the long-term strategic goals of our Member States,” Babayev said.
Turning to the broader role of the institution, Babayev said that the Turkic Investment Fund is a long-awaited and first-of-its-kind economic integration–focused financial organization of the Turkic world, which is experiencing strong economic growth.
“The Turkic Investment Fund represents more than a new institution. It represents a fundamental shift in how our region is going to build its future, which we reflected in our motto “Integrated Turkic Prosperity,” Babayev said.
The General Director added that sustainable integrational processes require not only socio-political alignment, but also building close economic ties, which is then translated into capital flows and intra-regional investments, increase in regional trade and better connectivity, coordination at both national and regional levels and commitment to deliver on sustainable development objectives. According to him, this understanding is what precisely led to the establishment of the Fund.
“The Turkic Investment Fund is to catalyze and accelerate these processes. Connectivity and boosting intra-regional trade are central to our work because they are essential for building stronger economies and achieving deeper economic integration. Our aim is to support strengthening economic ties among the Member States by facilitating trade expansion, improving connectivity and increased cross-border investment. We are responding to rising expectations and advancing priority projects in the Turkic world as our institution proceeds from establishment to operationalization phase now and will soon commence deploying resources,” Babayev said.
He pointed out that TIF is designed to complement, not replace, existing national and international financing mechanisms.
“And we believe with strong backing by our Members States, highly professional institutional capacity and sound bankability vision, we will become trusted and reliable partner for public and private investors and international financial institutions (IFIs), boost capital-flows and unleash a great growth potential of our region,” the General Director said.
Babayev noted that in 2025, the TIF adopted its policy frameworks. Of particular importance, he said, is the Fund's core document, the Investment Policy, which was developed to ensure it addresses the diverse investment needs and economic specificities of all member states.
“The investment strategy and the commencement of the operations have been recently approved by the Board of Governors at the annual meeting in Bishkek. TIF’s Investment Policy is now the main guide for us to determine which sectors and projects we invest in and support”, he said.
The General Director noted that investment proposals focusing on physical and digital infrastructure, aimed at enhancing regional connectivity, facilitating trade across the Turkic region and beyond, supporting inclusive growth and MSMEs, promoting green economy transitions and innovation, and fostering sustainable development within Turkic countries of operation, will undergo a multi-stage review process. This review will include, among other things, thorough due diligence process and conformity with TIF’s strategic objectives.
He also emphasized that each funding or investment consideration will be subject to a rigorous appraisal, based on counterparty and transaction-specific information, including, inter alia, sector and country context, vulnerability assessments, risk mitigation measures, and the formulation of a coherent investment proposal.
“At this early stage, TIF is deliberately building a flexible and scalable financing framework. Our ambition is to operate across the full spectrum of financial instruments as institutional capacity and market sophistication evolve. This spectrum begins with debt instruments via co-financing alongside reputable Development Finance Institutions (DFI), which remains a cornerstone for building bankable investment portfolio. From there, over time, we will introduce selectively more complex structured credit and hybrid instruments, both funded and unfunded risk-sharing and credit-enhancement structures, and other forms of investments designed to underlying projects’ financing needs”, he said.
Babayev added that, as institutional capacity and expertise grow, and where appropriate, the spectrum of investments will expand to include equity instruments-particularly in high-impact projects that support innovation, productivity growth, and regional integration.
“As we have announced after our Board of Governors Meeting, which was held in Bishkek on 5 December 2025, we plan to launch the Fund’s operational activities and commence financing by the end of the first quarter of 2026. This decision is very important for us because it marks the Fund’s transition from its establishment phase into operationalization of the Fund’s financing activities,” he said.
Babayev pointed out that preparatory work on project pipelines is ongoing, with financing activities expected to commence as the operational framework is rolled out through 2026. Initial consultations have also been held with several regional and international financial institutions to lay the groundwork for future co-financing arrangements.
“We will follow a phased approach. In the first stage, we will focus on low-risk activities that deliver quick and concrete results. As we expand, we will move toward larger and more complex projects, aiming by 2030 to become a fully developed investment platform and a reliable base for regional economic cooperation,” he said.
Babayev noted that, in the medium term, the Fund will pursue investment opportunities in transportation infrastructure that connect its member states to global markets
“Among such initiatives, which can potentially yield into the projects for TIF’s participation: China–Kyrgyzstan–Uzbekistan railway, Zangezur Corridor (TRIPP), and other projects enhancing capacity of the Middle Corridor, supporting regional prosperity through investing in multimodal transportation, are strategic corridors of interest for TIF. We also remain committed to support building a greener future and will consider investments in renewable energy generation, storage and transportation initiatives within the region,” he said.
Furthermore, the General Director said that helping increase integration of modern technologies into daily life across the Turkic region by actively supporting IT development, digital and innovative projects, are one of the TIF’s strategic objectives.
“Our goal is to contribute to creation of enabling environment where these initiatives can thrive, driving digital transformation and competitiveness. We will support increasing the global competitiveness of Turkic tech companies helping them to scale and succeed in international markets. Through targeted investments and partnerships, we aim to foster innovation, strengthen digital infrastructure, and position the Turkic region as competitive area for technology and modern solutions”, he explained.
Babayev added that the Fund's key priority, connectivity, also includes the digital sphere. It aims to ensure that the people and businesses in its Member States benefit from stronger digital infrastructure and modern technologies. By supporting digital tools, particularly customs digitalization, e-commerce, and cross-border innovation projects, the Fund will help these economies remain competitive and create opportunities for future growth.
“We need to understand that without innovation and modern technologies, the development in the physical infrastructure will not help us enough to reach our regional goals. For instance, after the changing dynamics of the global politics, in 2024 alone, the volume of cargo transportation along Trans-Caspian International Transport route (TITR) increased by 62 per cent, reaching 4.5 million tons. According to the World Bank’s report dated November 2023, with the right level of investment, freight volumes could almost triple 11 million tons by 2030”, Babayev noted.
Babayev emphasized that TITR has become a very important route not only for making the global trade routes more flexible but also imposing considerable partnership need with the regional countries such as Kazakhstan, Azerbaijan and Türkiye. It is a multimodal route using rail, road, and maritime transport, offering a viable alternative to the Northern Corridor.
“Our Member States are all focusing on enhancing connectivity but there is also a lot to do with the digitalization of the processes, customs and all other related infrastructures within the scope of connectivity. Advancing technological innovation and digital transformation across the Member States is a key priority. Our initiative to boost and help adapting modern technologies in the Turkic region will have a strategic impact in several ways from strengthening digital financial inclusion and fostering the growth of digital economies; and expanding access to e-government services and digital trade platforms, making processes more efficient and accessible,” he said.
Moreover, speaking about plans to expand the Fund’s charter capital, Babayev stated that the TIF's authorized capital is currently $600 million, with expectations for future growth.
“Our Member States have made firm commitments, and we are building on this foundation by expanding our resources through partnerships with other stakeholders. Over the next five years, following the establishment of a solid project pipeline, we expect to increase our capital through share capital increases and access to international capital markets. With stronger resources, we will co-finance larger strategic projects and create more opportunities to bring in new investors,” he said.
Babayev added that with the expected increase in the Fund’s capital base, its capacity to lend and invest will grow significantly.
“Over the next ten years, we expect stronger cross-border trade, greater investment, and improved connectivity across the Turkic region. TIF will play an active role in this process by mobilizing international partners, financing larger projects, and helping member states strengthen their global competitiveness. We are building partnerships with international financial institutions, governments, and private investors. Our aim is to use our capital to bring in more funding for the projects, reduce risks for partners, and attract new investment into priority areas,” he concluded.
