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 transport projects in Kazakhstan amounted to $8.487 billion from 2001 through 2023, Trend reports.
According to the CAREC, Kazakhstan, with a share of 24.6 percent, ranks first in terms of investment in transport projects within the CAREC project portfolio.
The second place in terms of the share of investments in transport within the CAREC portfolio was taken by Uzbekistan (19 percent), and third by Azerbaijan (13.6 percent).
Overall, investment in Kazakhstan under the CAREC Program amounted to $9.48 billion from 2001 through 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.