ADB to Invest Over US$10 Billion in Central Asia Regional Economic Cooperation Program by 2030

Tashkent, Uzbekistan (UzDaily.com) — The Asian Development Bank (ADB) announced plans to invest more than US$10 billion in the Central Asia Regional Economic Cooperation (CAREC) Program through 2030, aiming to promote digital and sustainable regional integration.

The announcement was made at the 24th CAREC Ministerial Conference in Bishkek. The investment is intended to build a digitally connected and environmentally sustainable region.

Ministers from participating countries approved the Bishkek Declaration, which launches negotiations to simplify trade and investment procedures. The initiative seeks to reduce trade barriers, stimulate investment flows, and expand cooperation in emerging areas such as the green economy and digital trade.

ADB President Masato Kanda, speaking at the conference, reaffirmed the bank’s commitment to strengthening support for CAREC. He said ADB-funded projects are designed to catalyze regional integration, enhance resilience, and ensure inclusive growth. “We envision CAREC as economically sustainable, environmentally responsible, socially inclusive, and digitally connected,” Kanda added.

Since its inception in 2001, the CAREC Program has mobilized approximately US$54 billion in investments for regional projects, with ADB serving as the program’s Secretariat.

The ministerial conference was preceded by a CAREC Business Forum, where around 150 leaders from the private sector, governments, and partner organizations discussed ways to transform CAREC corridors into engines of economic growth, climate resilience, and digital innovation.

The next ministerial conference, marking the program’s 25th anniversary, is scheduled for 2026 in Mongolia.