News

CAREC 2020: Boosting trade, transport, and energy in Central Asia

Senior officials from the 10 member countries of the Central Asia Regional Economic Cooperation (CAREC) Program, met today in Baku, Azerbaijan, and moved towards completing a strategic framework that over the next decade will help further develop regional transport networks, boost regional trade, and help secure reliable, efficient energy.

Turkmenistan gets first ADB loan for regional rail link

The Asian Development Bank (ADB) is providing $125 million in its first ever loan to Turkmenistan for a rail link that will expand economic opportunities at home and support increased trade in Central Asia and beyond.

ADB lays groundwork for easier border crossing in Central Asia

The Asian Development Bank (ADB) has approved a technical assistance grant for a feasibility study for the upgrading and modernization of border crossing points in Central Asia.

Kyrgyz Republic, Tajikistan sign cross-border transport agreement under CAREC

Kubanychbek Mamaev, Permanent Secretary of the Ministry of Transport and Communications of the Kyrgyz Republic, and Olimjon Boboev, Minister of Transport and Communications of the Republic of Tajikistan, signed a Cross-Border Transport Agreement (CBTA) that will promote bilateral and regional trade. This is the first CBTA signed under the Central Asia Regional Economic Cooperation (CAREC) Program.

Turkmenistan and Pakistan join CAREC as Central Asia partnership looks to 2020

The inclusion of Turkmenistan and Pakistan extends CAREC's reach to the Arabian Sea and beyond, improving Central Asia's competitiveness in world markets, including East and South Asia, Europe, and the Russian Federation.

Expanding CAREC takes stock of a decade of cooperation

The Central Asia Regional Economic Cooperation (CAREC) Program is holding its 9th Ministerial Conference (MC) as member countries take stock of a partnership that is laying the groundwork for a truly integrated and globally connected region.

World Bank and Turkmenistan expand collaboration: Memorandum of understanding signed on a project to modernize Turkmenbashi Sea Port

The International Bank for Reconstruction and Development and the Government of Turkmenistan have signed a Memorandum of Understanding to set the framework for collaboration in preparing an investment project which will further develop the port of Turkmenbashi and improve the efficiency of its operations.

World Bank Group holds consultations with the Central Asian region on future energy strategy

The World Bank Group held consultations in Central Asia to gather input for a new energy sector strategy, which is expected to be completed in early 2011.

ADB to provide $600 million to improve key Uzbekistan road corridor

A key highway in Uzbekistan linking the Central Asian country to its neighbors is getting support from a $600 million Asian Development Bank (ADB) multitranche financing facility.

Europe and Central Asia facing energy crunch

The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe. In spite of the underlying resource base, the region as a whole will face an energy crunch unless investments of more than $3 trillion are made over the next 20 years, according to the new World Bank report.