Turkish Wealth Fund

The Turkish Wealth Fund (TWF) announced late on May 11 that it will raise the core capital of three state lenders.

"To strengthen capital structures and support the adequacy of Ziraat Bank, Halkbank and VakıfBank, we have launched the necessary works to raise core capitals by a total of 21 billion Turkish liras [some $3 billion]," the TWF said in a statement.

The Turkish Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a Memorandum of Understanding (MoU) to promote bilateral economic, trade and investment cooperation.

Sinosure will consider providing support up to $5 billion with respect to the financing activities, according to a statement from TWF on March 26.

The Russian Direct Investment Fund (RDIF) and the Turkish Wealth Fund (TWF) have signed a memorandum establishing the Russia-Turkey Investment Fund, in a bid to further increase bilateral economic ties and boost the investment flow.