Press Box

BISHKEK, KYRGYZ REPUBLIC (26 February 2010) - An Asian Development Bank (ADB) mission has been visiting the Kyrgyz Republic for country consultations on the Central Asia Regional Economic Cooperation (CAREC) Program.

During its 25-26 February visit, the mission, which was led by Shigeko Hattori, Division Director, Central and West Asia Department, met with senior officials to discuss regional economic cooperation and perspectives for Central Asia. They looked at the main priorities of the CAREC program for 2010-2011 as well as the arrangements for CAREC's 9th Ministerial Conference and Senior Officials Meeting, scheduled for April 2010 at ADB headquarters in Manila. 

"We strongly believe that regional integration and cooperation in Central Asia is the way to move forward and provides the means for countries to deal with some of their major challenges that can only be resolved in a regional context," said Ms. Hattori. 

She noted that in a recent energy crisis, the impacts were not confined to one country but were felt across the region, demonstrating that sector problems are borderless and highlighting the need for an effective regional response.

"The CAREC plans are ambitious, but with joint efforts and cooperation we will move things forward benefiting all countries in the region," she said. 
 
The Kyrgyz Republic has been an active proponent of, and participant in, the CAREC Program, Lan Wu, Country Director of ADB's Kyrgyz Resident Mission said, noting that regional road corridors have given the country better access to its Central Asian neighbors and beyond. 

"ADB has provided $379.2 million to help finance the Almaty-Bishkek road, the Bishkek-Osh road, the Osh-Sarytash road, the Sarytash-Tajikistan border road, and the Bishkek-Torugart road," Mr. Lan Wu said.

The CAREC Program focuses on the transport, energy and trade sectors. The Transport and Trade Facilitation Strategy and Action Plan aims to improve six CAREC transport corridors to make trade and travel along the corridors faster, cheaper, and safer. It intends to mobilize total investment of $21.1 billion. 

The CAREC Energy Action Plan Framework supports energy security and increased regional trade in energy to boost economic growth. Current projects under discussion will require investments of about $20 billion. 

In 2009, CAREC partner multilateral institutions, including ADB, committed $3.9 billion in loans and grants for the reconstruction of a transport corridor connecting Western China with Western Europe, through Kazakhstan.
 
Founded in 1997, CAREC is a partnership of eight countries - Afghanistan, Azerbaijan, People's Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, 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 CAREC Secretariat since 2000. 

ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members - 48 from the region.