The Asian Development Bank announced that it will invest more than $10 billion through 2030 to strengthen projects under the Central Asia Regional Economic Cooperation (CAREC) Program. The commitment aims to advance regional goals of digital connectivity, economic resilience, environmental sustainability, and social inclusion. ADB President Masato Kanda emphasized that this expanded support will help drive deeper integration, greater resilience, and shared growth across the region.
The announcement was made at the 24th CAREC Ministerial Conference in Bishkek, where ministers endorsed the Bishkek Declaration. The declaration launches negotiations on trade and investment facilitation designed to reduce trade barriers, increase investment flows, and foster cooperation in areas such as digital trade and the green economy. The CAREC Program, active since 2001, has already mobilized about $54 billion for regional development, with ADB serving as host of the CAREC Secretariat.
The Ministerial Conference followed the CAREC Business Forum, which brought together around 150 leaders from the private sector, governments, and development institutions. Discussions focused on unlocking opportunities to transform CAREC corridors into drivers of economic growth, digital innovation, and climate resilience. The next CAREC Ministerial Conference will take place in Mongolia in 2026, coinciding with the program’s 25th anniversary.
ADB continues to play a central role in promoting inclusive and sustainable development across Asia and the Pacific. With a membership of 69 countries, the bank supports its partners through innovative financial tools, strategic collaboration, and a commitment to delivering resilient infrastructure and safeguarding the environment.
