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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.

World Bank approves additional financing for the regional and municipal infrastructure development project in Georgia

The World Bank Board of Executive Directors approved an Additional Financing in the amount of $45 million to Georgia for the Regional and Municipal Infrastructure Development Project . The additional financing has been requested by the Government of Georgia to scale up the project activities through rehabilitating additional municipal services and infrastructure throughout the country, and preparing strategic development plans for a number of selected cities.

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.

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