Kuwait Fund and Turkic Investment Fund Sign Cooperation MoU in Bangkok

The Kuwait Fund for Arab Economic Development signed a memorandum of understanding with the Turkic Investment Fund to coordinate activities and exchange technical expertise, the Kuwait Times reported. The MoU was signed by KFAED Acting Director General Rashid Al-Bader and TIF Chairman Baghdad Amreyev in Bangkok. The details were reported by Kuwaittimes.

What the Kuwait Fund MoU Covers

The signing took place on the sidelines of the 2026 Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok, Thailand. Al-Bader said the agreement covers activities consistent with the operational policies and strategic objectives of both institutions, particularly in the countries where they operate.

He said a key area of cooperation would be the early identification of projects that could benefit from financial support, technical assistance or both, in accordance with the institutions' respective policies and working procedures. The agreement also provides for periodic consultations to coordinate operations and activities where possible, as well as the exchange of information, knowledge and technical expertise.

"The memorandum reflects KFAED's commitment to expanding its international partnerships and strengthening ties with development institutions," Al-Bader said. Both sides will seek to leverage their respective resources and capabilities to enhance cooperation in areas of mutual interest.

Kazakhstan's Ambassador to Thailand and Permanent Representative to the United Nations Economic and Social Commission for Asia and the Pacific, Margulan Baymuhan, attended the signing ceremony. The Turkic Investment Fund is the first specialized international financial institution jointly established by member states of the Organization of Turkic States: Turkey, Azerbaijan, Kazakhstan, Uzbekistan and Kyrgyzstan. Its founding agreement was signed in 2023, and it aims to strengthen economic and trade cooperation among its member states by financing strategic projects and enhancing collaboration with international financial and development institutions.

Kuwait Fund's Recent Financing Activity

According to akta.pro company records, the Kuwait Fund for Arab Economic Development signed a loan agreement with Grenada in June 2026 for construction and equipping of the New General Hospital Project. In the same month it signed a loan agreement with Tajikistan for a school development project and a USD 1 million grant agreement with Yemen for a Technical Education and Vocational Training Institute. The fund also extended a USD 9.6 million loan to El Salvador for the San Matías Photovoltaic Solar Power Plant.

Earlier Kuwait Fund Engagements

In September 2026, Cuba's First Deputy Foreign Minister Gerardo Penalver praised Kuwait's support through the Kuwait Fund for Arab Economic Development for infrastructure projects, including water and municipal development, the Kuwait Times reported. In August 2026, the Kuwait Fund signed a KWD 3 million (about USD 9.6 million) loan with El Salvador's government to finance an 11 MWp San Matías solar plant in northwest San Salvador, according to SolarQuarter. The Kuwait Emergency Response Fund had received KD 75.37 million (USD 244 million) in contributions from 68 public and private entities, managed by KFAED, the Kuwait Times reported in August 2026.