CAREC Marks 25 Years with US$ 60.2bn Investment, Eyes Stronger Regional Links
Published September 29, 2026 | 06:30 PM
(ULAANBAATAR (Mongolia) | UrduPoint / Pakistan Point news - 29th Sep, 2026) The Central Asia Regional Economic Cooperation (CAREC) Program celebrated its 25th anniversary on Tuesday, boasting a cumulative investment of $60.2 billion. Ministers adopted a declaration outlining priorities for enhanced regional cooperation and stronger trade and investment ties.
The CAREC partnership has expanded from five founding countries to 11 members, fostering improvements in transport and energy connections while expanding market access across the region.
As stated by Asian Development Bank (ADB) President Masato Kanda: "Cooperation asks countries to place part of their future in one another’s hands." "For 25 years, CAREC countries have accepted that responsibility... We owe respect to those who built this partnership, and determination to make it work better for those who will inherit it."
The next phase will focus on:
- Facilitating trade among CAREC countries.
- Attracting investment through improved border crossings and stronger electricity and digital networks.
Currently, trade among CAREC countries accounts for only about five percent of their total trade, indicating substantial potential for growth.
ADB plans to provide over $7.5 billion in financing through 2030, aiming to catalyze approximately $3 billion in private sector investment. These investments are anticipated to strengthen regional connections, create larger markets and better jobs, and promote shared prosperity across the region.
Since 2025, ADB has committed around $3 billion, representing 30% of the indicative $10 billion financing envelope through 2030 announced at last year’s ministerial conference. This financing supports projects in Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.
As of August 2026, CAREC's cumulative investment reached $60.2 billion, with $19.9 billion from ADB. ADB projects under CAREC have improved over 20,000 kilometers of roads and railways, reducing travel times and trade costs.
The recently approved ADB Border Upgrades for Integration, Logistics and Development (BUILD) Facility will provide up to $400 million for border crossing modernization. Negotiations on the CAREC Trade and Investment Facilitation Partnership are proposed to complement these investments by establishing more predictable rules for trade and investment.