BAKU, Azerbaijan, April 5. The volume of investments under the Central Asia Regional Economic Cooperation (CAREC) Program launched by the Asian Development Bank (ADB) in Azerbaijan's transport sector amounted to about $5.617 billion from 2001 through 2023, Trend reports.
According to CAREC data, Azerbaijan, with a share of 16.3 percent, ranks third in terms of investment in the transport sector in the CAREC project portfolio.
Kazakhstan (24.6 percent, $8.487 billion) ranked first in the share of transport investments in the CAREC portfolio, and Uzbekistan (19 percent, $6.555 billion) ranked second.
Overall, investments in Azerbaijan under the CAREC program totaled $6.9 billion from 2001 through 2023.
To note, CAREC investments totaled nearly $51.02 billion in 276 regional projects since 2001. ADB has contributed over $17.6 billion, other partners have provided $23.37 billion, and CAREC member governments have invested $10.05 billion.
Transport projects received the largest share of investment at 67.5 percent ($34.45 billion), followed by energy at 24.9 percent ($12.71 billion).
The CAREC program, involving 11 countries and development partners, aims to promote economic growth and poverty reduction through cooperation.
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