Central Asia Regional Economic Cooperation (CAREC) Program
In the Spotlight
A highway linking Mongolia to neighboring Russia and the People's Republic of China is bringing development, jobs, and social services to the country's remote western regions.
The Silk Road first operated in 2 B.C. as a route between China and the capital of the Roman Empire. The most valuable commodity imported from China was silk, thus ... The Silk Road.
ADB approved a $100 million loan for a highway project in Pakistan that will mark its first cofinancing with the Asian Infrastructure Investment Bank (AIIB). The project is an integral part of the Central Asia Regional Economic Cooperation (CAREC) corridors.
The Central Asia Regional Economic Cooperation, or CAREC, Program is a partnership of 10 countries (Afghanistan, Azerbaijan, People's Republic of China, 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.