Turkey’s Development Fund, which aims to support regional development and innovation in technology fields, entered into service, the Turkish treasury and finance minister announced on Wednesday.

The fund, organized by the country’s Development and Investment Bank, will form a basis for high value-added technology production by supporting entrepreneurs, according to Berat Albayrak’s tweet.

The fund will contribute to the development of sectors which have strategic importance in the country’s sustainable growth.

The Development Fund, created with a source of totaling 750 million Turkish liras ($95.4 million), aims to support two different areas — the Regional Development Fund and Technology Innovation Fund.

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