Ithmaar, Gulf Banks plan $6 billion fund for Türkiye investments

Bloomberg - Ithmaar Bank BSC and two other banks from the United Arab Emirates set up a $6 billion fund to invest in Türkiye. The fund to be established by Ithmaar, Abu Dhabi Investment House and Gulf Finance House EC plans to start investing in Türkiye next year, Alpaslan Korkmaz, head of Türkiye's investment promotion agency, said at a press conference in Istanbul last Friday. The fund will initially invest $3 billion in agriculture in southeast Türkiye, where the government this year announced a $12 billion project to help irrigate more farm land, Korkmaz said.