ASHGABAT, Turkmenistan, April 5. The total volume of investments under the Central Asia Regional Economic Cooperation (CAREC) Program launched by the Asian Development Bank (ADB) in Turkmenistan from 2001 through 2023 amounted to $2.21 billion, Trend reports.
CAREC data show that Turkmenistan's share in the program's project portfolio reached 4.3 percent as of December 31, 2023.
Since 2001, CAREC investments have amassed nearly $51.02 billion, spanning 276 regional projects. ADB's contribution exceeds $17.60 billion, while other partners have provided $23.37 billion, and CAREC governments themselves have invested $10.05 billion.
The distribution of investments reveals that transport projects claimed the largest share, amounting to 67.5 percent, followed by energy at 24.9 percent, and trade facilitation and policy at 2.7 percent.
Meanwhile, the Asian Development Bank (ADB) developed the Central Asia Regional Economic Cooperation (CAREC) Program in 1997 to promote economic cooperation between Central Asian countries and neighboring Transcaucasia and South Asia regions.
Currently, the CAREC Program, involving 11 countries and development partners, aims to foster economic growth and reduce poverty through cooperation.