The Asian Development Bank (ADB) has announced a major financial commitment of more than $10 billion to support the Central Asia Regional Economic Cooperation (CAREC) programme by 2030, marking one of the most significant regional investment plans in recent years. The announcement was made during the CAREC ministerial conference held in Bishkek, where participating countries reaffirmed their focus on strengthening regional connectivity, expanding clean energy solutions and accelerating digital transformation across Central and South Asia.
During the event, member states adopted the Bishkek Declaration, a strategic roadmap designed to open a new phase of cooperation among the 11 CAREC countries. The declaration outlines plans to launch negotiations on trade and investment facilitation, with the objective of easing cross-border barriers, enabling smoother investment flows and promoting collaboration in emerging sectors such as digital trade and environmentally sustainable economic activity. Pakistan participated in the gathering, represented by Communication Minister Abdul Aleem Khan, underscoring its continued engagement with regional development initiatives under the CAREC umbrella.
In his address, ADB President Masato Kanda highlighted the bank’s long-term vision of creating a digitally connected, climate-conscious and resilient region. Kanda emphasized that the renewed financial commitment will support both physical and digital infrastructure, including platforms that enhance cross-border commerce, logistics efficiency and overall economic resilience. He noted that since the programme’s inception in 2001, the CAREC framework has already mobilized around $54 billion for regional development projects, illustrating its critical role in improving transport links, energy networks and trade gateways across member countries.
The ministerial conference followed the CAREC Business Forum, which brought together nearly 150 participants from government agencies, private enterprises and international development institutions. Discussions during the forum centred on how regional corridors can evolve into engines of innovation, enabling countries to integrate digital solutions, strengthen logistics and build climate-ready economic systems. Mongolia has been selected as the host for the next ministerial conference in 2026, coinciding with the 25th anniversary of CAREC, offering an opportunity to assess long-term progress and future pathways.
ADB also reaffirmed its support for the CAREC Climate and Sustainability Project Preparatory Fund, an initiative designed to help countries develop climate-aligned projects that meet international investment standards. The bank is currently backing five major regional initiatives, with more under review as member states prioritize sustainability and long-term resilience. Kanda additionally pointed to new mechanisms such as the CAREC Innovation and Venture Investment Facility, which aims to elevate entrepreneurship and technology-driven growth across the region. Another key initiative is the BUILD Facility, created to enhance border infrastructure, improve logistics management and streamline trade processes.
A significant element of CAREC’s modernisation strategy is the rollout of the CAREC Digital Corridor, a terrestrial and fibre-optic network that aims to strengthen digital connectivity between member states. This initiative is expected to improve data transmission capacity, support digital public services and enable seamless cross-border digital trade. According to ADB leadership, these forward-looking projects illustrate the bank’s commitment not only to financing but also to driving regional standards, strengthening cooperation and enabling countries to move forward collectively in an increasingly digital and climate-sensitive global economy.
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