Total investment within the framework of the Central Asia Regional Economic Cooperation (CAREC) Program reached about $47 billion last year. This was reported by Report news agency on last Friday, citing to the statement of Deputy Director of the Asian Development Bank (ADB) Shixin Chen at the 56th Annual Meeting of the ADB Board of Governors in Incheon, South Korea.
During his remarks, Shixin Chen said $17 billion of the funds have been channeled by ADB, about $21 billion by other European partners, and $9 billion by governments of CAREC member countries.
According to the report, ADB plans to invest mainly in energy, agriculture, and transport projects in 2023.
In particular, the programs for Central and West Asia include the introduction of agricultural practices taking into account the climate agenda, improving the health and disaster prevention systems, and development of a common system of climate change vision CAREC.
CAREC Institute is an intergovernmental organization, jointly managed by eleven countries - Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. The purpose is to promote economic cooperation among the member states.