US$ 23 billion for Central Asian transport
30 October 2012
Ministers from the 10 Central Asia Regional Economic Cooperation (CAREC) nations have agreed on a plan for over US$ 23 billion in new regional transport infrastructure projects as well as energy and trade initiatives.
The CAREC programme covers a network of six trade corridors across 10 countries in Central Asia - Afghanistan, Azerbaijan, China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan.
The new Wuhan Action Plan prioritises 68 transport projects that will contribute to improving links along the six major corridors.
In addition, CAREC nations aim to raise funds to build and improve energy assets. Development banks including the Asian Development Bank, the European Bank for Reconstruction and Development and the World Bank, as well as other donor agencies, pledged support for the latest action plan.
Since 2001, CAREC has approved over US$ 19 billion in investments in just over 120 projects, including almost 4,000 km of roads, 3,200 km of railways, and more than 2,300 km of power transmission lines.
