BISHKEK, Kyrgyzstan, April 5. Investments in Kyrgyzstan through the Central Asia Regional Economic Cooperation (CAREC) Program, initiated by the Asian Development Bank (ADB), have amounted to $2.95 billion from 2001 through 2023, Trend reports.
The CAREC reported that Kyrgyzstan's contribution to the program project portfolio was 5.8 percent as of December 31, 2023.
Since 2001, CAREC investments have totaled $51.02 billion over 276 regional initiatives. The ADB committed more than $17.60 billion, while other partners contributed $23.37 billion, and the CAREC governments put in $10.05 billion.
Transport projects received the most investment, at 67.5 percent, followed by energy (24.9 percent) and trade facilitation and policy (2.7 percent).
Among the countries under the program, Uzbekistan received the most investment at 25.6 percent of the portfolio ($13.04 billion), followed by Kazakhstan at 18.6 percent ($9.48 billion).
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.