ASIATODAY.ID, BISHKEK — The Asian Development Bank (ADB) announced plans to invest over $10 billion through 2030 to support projects and initiatives under the Central Asia Regional Economic Cooperation (CAREC) Program, marking a major step toward building a digitally connected and resilient region.
“Our vision for CAREC is clear: a region that is economically resilient, environmentally sustainable, socially inclusive, and digitally connected,” said ADB President Masato Kanda, who delivered a keynote address at the 24th CAREC Ministerial Conference in Bishkek on November 21, 2025.
“ADB is scaling up our support to the CAREC Program with over $10 billion in financing for projects and programs until 2030. These projects will catalyze greater integration, resilience, and shared growth.”
The announcement was made during the conference, where CAREC Ministers endorsed the Bishkek Declaration to launch negotiations on trade and investment facilitation aimed at reducing trade barriers, enhancing investment flows, and promoting cooperation in emerging areas such as digital trade and the green economy.
The CAREC Program is a partnership of countries and development partners working together to promote sustainable development and economic growth through regional cooperation.
Since 2001, the program has mobilized about $54 billion in investments for regional projects. ADB hosts the CAREC Secretariat.
The Ministerial Conference was preceded by the CAREC Business Forum, which brought together about 150 leaders from the private sector, governments, and development partners.
The forum explored opportunities for transforming CAREC corridors into engines of economic growth, digital innovation, and climate resilience. The next Ministerial Conference will be held in Mongolia in 2026, marking the 25th anniversary of the CAREC Program.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet.
Founded in 1966, ADB is owned by 69 members—50 from the region. (AT Network)
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