Kazakhstan President Nursultan Nazarbayev sees more active participation by his country in CAREC as the program refines its strategies and objectives under CAREC 2020.
“The international transport corridor between western Europe and western People’s Republic of China is being reconstructed within the framework of this joint work with ADB,” President Nazarbayev noted in his opening address at the 47th Annual Meeting of ADB Governors in Astana. (Read the full speech in Russian here.)
Kazakhstan joined CAREC in 1997. Since 2001, CAREC has invested more than $7.9 billion in 22 projects related to transport, trade, and energy.
Four of the six CAREC transport corridors–1, 2, 3, and 6–pass through Kazakhstan, making it a vital transport and trade hub.
The Kazakhstan government hosted this year’s meeting, with the theme “The Silk Road: Connecting Asia with the Changing World.”
The 3-day meeting was joined by more than 3,000 delegates, including top policymakers, business leaders, media, academics, civil society, and development institution representatives.
During the opening ceremony, Kazakhstan and ADB signed a cofinancing agreement, under which ADB will help the government implement its development program by supporting industrial policy, small and medium-sized enterprises, and the banking sector.
(Photo credit: ADB)