ADB ready to finance CAREC reform

ADB ready to finance CAREC reform ADB ready to finance CAREC reform
Finance
June 17, 2025 11:50
ADB ready to finance CAREC reform

The Asian Development Bank (ADB) plans to provide technical assistance of $650,000 to support institutional reform of the Central Asia Regional Economic Cooperation Institute (CAREC Institute, CI), Report informs referring to ADB.

The project is regional in nature and covers the following countries: Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, China, Tajikistan, Turkmenistan and Uzbekistan.

Financing will be provided from the ADB Special Technical Assistance Fund.

The project is planned to strengthen the institutional capacity of CI and support the implementation of its large-scale update plan, developed jointly with ADB. CI, as an analytical unit and an integral part of the CAREC Program, has received ADB support since its inception - in developing operational plans, implementing strategies, as well as conducting research and training activities.

The new technical assistance will be aimed at preparing flagship studies; developing human and analytical capacity; informational and educational activities; ensuring closer integration of CI with the CAREC program. In particular, the project builds on the findings and proposals of the concept note “Revitalizing CI,” endorsed by the CI Board of Governors on November 9, 2024.

The document highlights the need for a new strategy for the institution for 2026–30, focused on fewer but higher-quality analytical products and training programs, as well as reform of internal processes in line with international standards. Assistance will be provided over the period 2025–27 and is consistent with ADB’s Strategy 2030, including the priority “Promoting regional cooperation and integration.”

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