Central Asia Regional Economic Cooperation (CAREC) Program
In the Spotlight
ADB has approved a $198 million loan to help upgrade and widen 77 kilometers (km) of the existing Karshi-Shakhrisabz-Kitab highway in Kashkadarya province, southeast of Uzbekistan, to improve tourism, mobility, as well as domestic and international trade.
ADB and the Government of the Kyrgyz Republic today signed the financing agreement amounting to $95.1 million to rehabilitate a section of the North-South Alternate Road Corridor in the Kyrgyz Republic.
ADB President Takehiko Nakao attended the 15th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference, which welcomed Georgia as its 11th member. CAREC Ministers agreed to formulate a new long-term strategy for CAREC to enhance its relevance in the context of changing economic and development conditions.
A four-lane road part of the National Trade Corridor will help connect Pakistan's deep seaports with landlocked Afghanistan and Central Asia.
The Central Asia Regional Economic Cooperation, or CAREC, Program is a partnership of 11 countries (Afghanistan, Azerbaijan, People's Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan), supported by 6 multilateral institutions, working together to promote development through cooperation, leading to accelerated growth and poverty reduction.
The Program's long-term vision is Good Neighbors, Good Partners, and Good Prospects.
With the rapid economic expansion of the People's Republic of China and Japan to the east, the Russian Federation to the north, and India and Pakistan to the south, there is unprecedented opportunity for CAREC countries to emerge as a center of trade and commerce, achieve higher levels of economic growth, and reduce poverty.
CAREC helps Central Asia and its neighbors realize their significant potential by promoting regional cooperation in four priority areas: Transport; Trade Facilitation; Energy, and Trade Policy.