Signing with PRC & ROC and Launch of CAREC Climate and Sustainability Project Preparatory Fund

On 8 November, the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) was launched at the 23rd CAREC Ministerial Conference in Astana. ADB signed Trust Fund Contribution Agreements (TFCA) with the People’s Republic of China (PRC) and Republic of Korea (ROK), with a combined contribution of $5 million as initial funding for CSPPF. A multi-partner trust fund, the CSPPF will help address and narrow CAREC countries’ financing gaps in achieving climate change goals and SDGs by supporting the preparation of bankable climate and SDG-related regional projects, supporting green transition and sustainable growth. CWRC Regional Head Lyaziza Sabyrova is the designated Trust Fund Manager pursuant to the CSPPF Establishment Paper approved on 18 October 2024.

VPR1 Yingming Yang signed the TFCA with PRC’s Assistant Minister of Finance Qichao Song. Also in photo are Ministry of Finance Deputy Director General and CAREC National Focal Point Mr. Jin Lu, CWRD DG Eugenue Zhukov, and CWRC Regional Head Lyaziza Sabyrova.

VP Yang also signed the TFCA with ROK’s Ministry of Economy and Finance (MOEF) DG for Development Finance Bureau Jisung Moon, joined by CWRD DG Eugenue Zhukov, CWRC Regional Head Lyaziza Sabyrova, and MOEF Deputy Director Hyo Eun Jang.