ADB Invests Heavily In Turkmenistan's Energy Projects Through CAREC Program

(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, April 19. The totalvolume of investments under the Central Asia Regional EconomicCooperation (CAREC) Program, launched by the Asian Development Bank(ADB), in Turkmenistan's energy projects in the period from 2001through 2023 amounted to $1.37 billion, Trend reports.

CAREC data show that Turkmenistan ranks third in terms ofinvestments in energy projects, which accounted for 10.8 percentduring this period.

Uzbekistan ranks first in terms of energy investments with ashare of 40.4 percent, followed by Afghanistan with 11.5percent.

The volume of investments in Turkmenistan under the program from2001 through 2023 reached $13.04 billion.

Since 2001, CAREC investments have amassed nearly $51.02billion, spanning 276 regional projects. ADB's contribution exceeds$17.60 billion, while other partners have provided $23.37 billion,and CAREC governments themselves have invested $10.05 billion.

The distribution of investments reveals that transport projectsclaimed the largest share, amounting to 67.5 percent, followed byenergy at 24.9 percent, and trade facilitation and policy at 2.7percent.

Meanwhile, the Asian Development Bank (ADB) developed theCentral Asia Regional Economic Cooperation (CAREC) Program in 1997to promote economic cooperation between Central Asian countries andneighboring Transcaucasia and South Asia regions.

Currently, the CAREC Program, involving 11 countries anddevelopment partners, aims to foster economic growth and reducepoverty through cooperation.


Trend News Agency

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