TASHKENT, Uzbekistan, April 5. The volume of investments under the Central Asia Regional Economic Cooperation (CAREC) program, launched by the Asian Development Bank (ADB), in Uzbekistan’s transport projects amounted to $6.54 billion from 2001 through 2023, Trend reports.
According to the CAREC, Uzbekistan ranks second in terms of investment in transport projects with a 19 percent share.
The largest proportion of the total investments in transport was in Kazakhstan (24.6 percent), followed by Azerbaijan (16.3 percent).
In total, Uzbekistan received the largest amount of investments ($13.04 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.
Transportation projects received the highest funding (67.5 percent), followed by energy (24.9 percent) and trade facilitation and policy (2.7 percent).
Among the countries under the program, Kazakhstan follows Uzbekistan in the volume of investments at 18.6 percent of the share ($9.4 billion).
The ADB developed the 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.
