DUSHANBE, October 25, 2011, Asia-Plus – A group of journalists from Dushanbe visited a major highway linking Dushanbe with the Kyrgyz Republic that is being rehabilitated under the Central Asia Regional Economic Cooperation (CAREC) program in Tajikistan, a press release issued by the Asian Development Bank (ADB)’s Tajikistan Resident Mission (TJRM) on October 24 said.
Work on the 340-kilometer road started in 2004 and has now entered its final stage. This is one of Central Asia’s most significant trade routes, and a key corridor connecting Tajikistan and Kyrgyzstan with China and beyond.
“The improved road reduces travel time and transport costs, increases incomes, creates job opportunities, improves access to social services, and ultimately increases regional trade and regional cooperation,” said Joji Tokeshi, Asian Development Bank (ADB) Country Director for Tajikistan.
Through the CAREC program, ADB has provided a total of around $118 million in concessional loans and grants to rehabilitate the road, with the Government of Tajikistan contributing about $40 million. The Ministry of Transport is the executing agency for the project.
CAREC is a partnership of 10 countries—Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan—and six multilateral institutions: ADB, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, and World Bank. ADB has served as the CAREC Secretariat since 2001. In November 2011, CAREC will mark its 10th anniversary.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2010, ADB approvals, including co-financing, totaled $17.51 billion. In addition, ADB”s ongoing Trade Finance Program supported $2.8 billion in trade.
