ASTANA, Kazakhstan, April 5. The volume of investments under the Central Asia Regional Economic Cooperation (CAREC) Program, launched by the Asian Development Bank (ADB), in Kazakhstan amounted to $9.48 billion from 2001 through 2023, Trend reports.
According to the CAREC, Kazakhstan's share in the CAREC project portfolio reached 18.6 percent as of December 31, 2023.
Since 2001, CAREC investments have totaled nearly $51.02 billion across 276 regional projects. ADB contributed over $17.60 billion, with other partners providing $23.37 billion and CAREC governments investing $10.05 billion.
Transport projects received the largest share of investment at 67.5 percent, followed by energy at 24.9 percent, and trade facilitation and policy at 2.7 percent.
Among the countries under the program, Uzbekistan received the most investment, at 25.6 percent of the portfolio ($13.04 billion).
The CAREC Program, involving 11 countries and development partners, aims to foster economic growth and reduce poverty through cooperation.