ADB to invest over $10 billion in Central Asia Regional Economic Cooperation projects by 2030

The Asian Development Bank (ADB) will invest more than $10 billion by 2030 to support regional connectivity, clean energy, digital transformation and infrastructure projects under the Central Asia Regional Economic Cooperation (CAREC) programme, the bank announced at a ministerial conference in Bishkek.

The conference saw the adoption of the “Bishkek Declaration,” through which CAREC ministers agreed to begin negotiations on trade and investment facilitation aimed at reducing barriers, improving investment flows and expanding cooperation in emerging sectors, including digital trade and the green economy. Pakistan was represented by Communication Minister Abdul Aleem Khan.

Addressing the meeting, ADB President Masato Kanda said the bank’s investments would help build a digitally connected and resilient region by supporting cross-border commerce and inclusive infrastructure. Since its launch in 2001, the CAREC Programme has mobilised around $54 billion for regional development projects.

The ministerial meeting followed the CAREC Business Forum, which gathered about 150 representatives from the private sector, governments and development partners to discuss how CAREC corridors can drive economic growth, digital innovation and climate resilience. Mongolia will host the next ministerial conference in 2026, coinciding with CAREC’s 25th anniversary.

ADB is also backing the CAREC Climate and Sustainability Project Preparatory Fund to help countries develop climate-aligned, bankable projects. The bank is supporting five regional initiatives, with more expected to be finalised soon. Kanda highlighted new platforms such as the CAREC Innovation and Venture Investment Facility and the BUILD (Borders Upgrades for Integration, Logistics and Development) Facility, aimed at strengthening entrepreneurship, border management and logistics.

He said these facilities demonstrate ADB’s role in bringing ideas, standards and regional coalitions in addition to financing, helping member countries “move faster together.” A key component of ongoing efforts is the CAREC Digital Corridor, a terrestrial and fibre-optic network intended to enhance digital connectivity across borders.