DUSHANBE
, June 22, Asia-Plus — The Asian Development Bank (ADB) will provide US$1.45 million for implementing 25 large projects in the Central Asian region, as well as in
Afghanistan
and
Mongolia
.
According to information from the ADB Dushanbe Office, the funds will provided within the framework of the Central Asia Regional Economic Program (CAREC).
Besides, the ADB will assist the CAREC member countries in implementing 13 technical assistance programs for a total amount of US$9 million.
The Central Asia Regional Economic Cooperation (CAREC) is an Asian Development Bank (ADB)–supported initiative to encourage economic cooperation in
Central Asia
. Begun in 1997, the Program has so far focused on regional initiatives in transport, energy, trade facilitation, and trade policy critical to improving the economic performance of the region and the livelihoods of all people, especially of the poor. CAREC is also an alliance of multilateral institutions active in promoting economic cooperation in
Central Asia
. Those institutions, besides ADB, are the European Bank for Reconstruction and Development (EBRD), International Monetary Fund (IMF), Islamic Development Bank (IDB), United Nations Development Program (UNDP), and World Bank. Moreover, the CAREC Program operates in partnership with other key regional cooperation programs and institutions. CAREC is the only forum that brings together the countries of the region and the key multilateral and regional institutions cited above within a single institutional framework.
