The Kyrgyz Republic in CAREC
- The Kyrgyz Republic joined CAREC in 1997
- Since 2001, $614 million has been invested in transport, trade, and energy
- 16 ongoing CAREC projects
- 4 completed CAREC projects
Consultation Meeting on Cross-Border Transport Facilitation
Representatives of the Asian Development Bank and the Kyrgyz Republic's Ministry of Transport and Communications met to discuss new regional technical assistance projects on cross-border transport facilitation in the CAREC region. Read full story.
Central Asia Regional Economic Cooperation Regional Improvement of Border Services Project (RIBS)
Sector: Trade facilitation
Expected outcome: The project will improve the performance of border management personnel, and reduce processing time and cost, resulting in better regional transport connections, improved trade and transit infrastructure, and reduced cross-border barriers.
Power Sector Rehabilitation Project
Expected outcome: The project will improve the performance of Toktogul hydroelectric power plant and increase the reliability of national and regional power systems.
The Kyrgyz Republic, located in the northeast of Central Asia among the mountains and valleys of Tien Shan, is a trade crossroad and a transshipment point between Europe and Asia. It is a multicultural state comprising more than 80 ethnic groups. These reflect the country's rich historical heritage as a connecting link between the West and East along the Great Silk Road.
Highlights from the Asian Development Outlook 2014:
Economic growth jumped to 10.5% in 2013, and the current account deficit narrowed to 10.4% of GDP, reflecting a rebound in gold production. Meanwhile, inflation accelerated to 6.6%. Growth is expected to return to 6.5% in 2014 and 5.5% in 2015, while inflation should average 6%-7%. The major challenge remains enacting governance reforms to improve the investment climate and boost investor confidence. Read more.