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1 Central Asia Regional Economic Cooperation Program
1
Central Asia Regional Economic Cooperation Program
2
The CAREC Program Established in 2001, the Central Asia Regional Economic Cooperation (CAREC) Program is a committed partnership of 10 countries:
• Afghanistan• Azerbaijan• People’s Republic of China• Kazakhstan• Kyrgyz Republic• Mongolia• Pakistan• Tajikistan• Turkmenistan• Uzbekistan
It is supported by six multilateral institutions:
• Asian Development Bank• European Bank for Reconstruction and Development• International Monetary Fund• Islamic Development Bank• United Nations Development Programme• World Bank
The CAREC partnership works to create a dynamic network of multimodal transport corridors that open up economic opportunities and intercontinental trade, building a global future for Eurasia. CAREC builds transport infrastructure, and moves people and goods across borders faster and at less cost by modernizing customs procedures, removing bottlenecks at borders, and simplifying trade. It also works to ensure energy security and efficiency, and to promote energy trade. CAREC 2020: A Strategic Framework for the Central Asia Regional Economic Cooperation Program 2011–20201 guides the partnership through its second decade of project implementation, with the primary goal of increasing trade and competitiveness.
1 http://www.carecprogram.org/uploads/docs/CAREC-Publications/2012/CAREC-2020-Strategic-Framework.pdf
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The Development Effectiveness Review (DEfR) monitors and reports on progress made over the year by all the components of the CAREC Program toward achieving the goals originally defined in the Comprehensive Action Plan. These goals were recast into a more focused set of objectives in CAREC 2020. The DEfR gauges the program’s accomplishments by using quantitative indicators and qualitative information. It also describes the challenges faced and highlights opportunities for complementary work between sectors.
This brochure summarizes what CAREC achieved during 2014 and what its priorities are for 2015 and beyond. The sector reports2 have more detailed information on results based on what has been done (interventions), what has been delivered (outputs), how the beneficiaries have used the outputs (outcomes), and what all these elements have contributed to the region (impacts).
2 Transport http://www.carecprogram.org/uploads/events/2014/SOM-Oct/Key-Documents/002_102_206 _Transport-Sector-Progress-Report.pdf Trade Facilitation http://www.carecprogram.org/uploads/events/2014/SOM-Oct/Key-Documents/002_103_206 _Trade-Facilitation-Sector-Progress-Report-and-Work-Plan.pdf Energy http://www.carecprogram.org/uploads/events/2014/SOM-Oct/Key-Documents/002_104_206 _Energy-Sector-Progress-Report-and-Work-Plan.pdf Trade Policy http://www.carecprogram.org/uploads/events/2014/SOM-Oct/Key-Documents/002_105_206 _Trade-Policy-Sector-Progress-Report-and-Work-Plan.pdf
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CAREC Portfolio Up to 2014CAREC’s operations growth is represented by the cumulative number and volume of loans and grants approved from 2001 to 2014, which show the size of CAREC investments in completed and ongoing projects. Investments reached a cumulative total of $24.6 billion in 156 projects by the end of 2014 (Table 1).
Table 1: Growth in CAREC Operations
Indicator
2006 Baseline
Value 2011 2012 2013 2014Volume of approved investment projects, cumulative since 2001 ($ million) 3,153 18,622 21,979 23,282 24,610Number of approved investment projects, cumulative since 2001 41 125 136 147 156
Source: CAREC Program Portfolio.
Investments are mainly in transport and energy: trade policy or trade facilitation interventions do not often require substantial capital outlays. Total investments in transport reached $19.1 billion (77%), energy $5.3 billion (22%), and trade facilitation $268 million (1%). The cumulative investments and number of projects in core sectors of CAREC up to 2014 are shown in Figures 1 and 2.
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Of the total investment of $24.6 billion, the 10 CAREC member countries financed $5.4 billion (22.2%), Asian Development Bank (ADB) $9.2 billion (37.3%), World Bank $5.8 billion (23.5%), European Bank for Reconstruction and Development $1.6 billion (6.3%), and Islamic Development Bank $1.4 billion (5.6%). Other development partners provided $1.2 billion (5.1%).
The program had 156 CAREC investment projects by the end of 2014, of which 67 were completed, with a combined value of $5.4 billion, about 22% of the total resource envelope. Of the 106 transport projects, 41 were completed; of 37 energy projects, 16; and of 13 trade facilitation projects, 10. In 2014, 12 projects were financially closed—9 in transport ($1.4 billion) and 3 in energy ($307 million). Kazakhstan, Azerbaijan, Uzbekistan, and Afghanistan were the top four beneficiary countries, receiving 78% of CAREC resources through investment projects.
Figure 1: Sectors of Engagement in CAREC Operations (volume)
22,00020,00018,00016,00014,00012,00010,000
8,0006,0004,0002,000
–2006
86515 515
2,5533,871
6,116
10,56912,141
14,352
17,444 17,98219,058
148 162 196 247 247 247 268 2681,518 1,873
3,578 4,023 4,288 5,032 5,284
2007 2008 2009
Transport Trade Facilitation
2010 2011 2012 2013 2014
Energy
$ m
illion
Source: CAREC Program Portfolio.
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Figure 2: Sectors of Engagement in CAREC Operations (number of projects)
Transport Trade FacilitationEnergy
180160140120100
80604020
02006 2007 2008 2009 2010 2011 2012 2013 2014
2966 6 14
1925
2830 36 37
78
11 1212 12 13 13
36 47 61 70 85 94 98 106
Num
ber o
f Pro
ject
s
Source: CAREC Program Portfolio.
From 2001 to 2014, the CAREC Program implemented 244 technical assistance projects worth $419 million (Figure 3) in priority and second-tier sectors. Of the total amount, CAREC countries provided 24%, ADB 32%, CAREC multilateral partners 9%, and other development partners 35%.
Figure 3: Technical Assistance Activities, 2001–2014
Transport$145.6 million82 projects35%
Trade Facilitation$83.6 million51 projects20%
244 technical assistance projects
$419 million
Trade Policy$3.7 million8 projects1%
Multisector/Second Tiera
$61.8 million43 projects15%
Energy$124.0 million60 projects29%
a Priority areas are transport, energy, and trade. Indicative second-tier areas are communicable disease control, agriculture, disaster risk management, and climate change adaptation and mitigation, which relate to the social impacts of trade expansion and improved competitiveness. http://www.carecprogram.org/uploads/events/2007/SOM-Mar/002_101_210_CAREC-Second-Tier-Activities-Update.pdf
Source: CAREC Program Portfolio.
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CAREC Results in 2014Transport and Trade FacilitationThe CAREC Transport and Trade Facilitation Strategy (TTFS)3 envisions (i) competitive corridors across the CAREC region; (ii) efficient movement of people and goods through CAREC corridors and across borders; and (iii) sustainable, safe, user-friendly transport and trade networks. TTFS 20204 refined the strategy and defined three priorities:
• supporting corridor extensions, developing roads and railway network and multimodal logistics hubs, and improving border-crossing points;
• reforming and modernizing customs and sanitary and phytosanitary systems, coordinating border management, and developing national single windows;5 and
• improving the planning, financing, and management of roads and railways; managing road safety; and increasing the private sector’s role.
Transport results in 2014, especially investments in physical infrastructure, exceeded targets:6
• Expressways or national highways built or improved (kilometers [km]). About 1,450 km of expressways or national highways were constructed or improved.
3 The CAREC Transport and Trade Facilitation Strategy for 2008–2017 was endorsed at the Sixth CAREC Ministerial Conference in Dushanbe, Tajikistan, in 2007. The implementation plan was endorsed at the Seventh CAREC Ministerial Conference, in 2008. http://www.carecprogram.org /uploads/events/2007/6th-MC/001_101_201_CAREC-Transport-Trade-Facilitation-Strategy.pdf
4 The new strategy has an implementation action plan for 2014–2020. http://www.carecprogram.org /uploads/docs/CAREC-Publications/CAREC-Transport-TradeFacilitation-Strategy.pdf
5 Single-window facilities allow traders to lodge information just one time via a single portal to fulfill import- and export-related regulatory requirements. National single windows will exchange information regionally, expediting transnational journeys on CAREC corridors. http://www .carecprogram.org/index.php?page=trade-facilitation
6 Refer to CAREC Results Framework (January–December 2014) on pp. 20–23.
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• Cumulative proportion of total CAREC road corridors in good condition (%). The cumulative proportion of total CAREC road corridors in good condition stood at 74%.7
• Railways built (km). About 1,036 km of new railways were built. • Railways improved (km). About 317 km of railways were improved.
7 The total road corridor network as a result of extensions is estimated to reach 29,350 km by 2020. The target is to have at least 70% of it built or improved by 2020.
Better Connectivity and Efficiency in CAREC Corridor 2, Uzbekistan
The Government of Uzbekistan signed an agreement in March 2010 to rehabilitate sections of CAREC Corridor 2 that pass through the Republic of Karakalpakstan and the provinces of Khorezm and Bukhara to connect the northwest with the southeast parts of the country. The corridor connects Uzbekistan to Afghanistan, Kazakhstan, the Kyrgyz Republic, Tajikistan, and Turkmenistan.
The CAREC Corridor 2 Road Investment Program aggregating $455 million was approved in April 2010 to rehabilitate and upgrade 175 kilometers (km) of the A380 highway. This highway serves as an important international corridor connecting Uzbekistan with neighboring countries. Besides forming an integral part of CAREC Corridor 2, the A380 highway is also part of the Asian Highway, the Transport Corridor Europe Caucasus Asia Corridor, and the European Highway Network. The investment program also includes several components for improving sustainability: expanded road asset management system, x-ray scanners for vehicle inspections at the international border crossing at Daut-ata, and community development.
In addition, ADB approved the Second CAREC Corridor 2 Road Investment Program aggregating $500 million in August 2011 to rehabilitate and upgrade 220 km of highways in Uzbekistan comprising 58 km of the A373 highway in Kamchik Pass, 75 km of regional roads in Namangan province, and 87 km of the A380 highway in Bukhara province. All these projects are ongoing. The program includes assistance for road safety improvement and continues the development of road asset management systems. Altogether, the two investment programs will improve Uzbekistan’s transport connectivity within Central Asia and further enhance sustainability of the outcomes.
Source: Asian Development Bank, Central and West Asia Department.
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Thirteen physical infrastructure projects were ongoing in other transport subsectors that contribute to the multimodal corridor network: two port and shipping projects, two logistics centers, three border-crossing points, and six civil aviation projects.
CAREC took steps to become more effective operationally and institutionally as it
• piloted the application of a geographic information system (GIS) to track TTFS 2020 progress starting with priority investment projects in Afghanistan and Pakistan;
• studied options for financing through tolling in Azerbaijan, the results of which will inform further action in other countries;
• initiated technical assistance to facilitate knowledge sharing among CAREC countries ($1.4 million from ADB and $0.4 million from the People’s Republic of China Regional Cooperation and Poverty Reduction Fund); and
• started preparing the CAREC road safety strategy and helping CAREC countries improve data collection and road-collision research, engineering, education, enforcement, and road safety evaluation.
Trade facilitation results in 2014 did not uniformly improve, as reflected in the 2014 CAREC Corridor Performance Measurement and Monitoring Annual Report:
• Time taken to clear a border-crossing point. Continued to be a challenge, and the addition of new border-crossing-point samples raised the average time from 10 hours (2013) to 14.1 hours (2014).
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Border-crossing time for railways rose from 29.9 hours to 32.6 hours on average.
• Cost of border-crossing clearance. Fell by 27% from $235 (2013) to $172 (2014) because border-crossing fees were reduced by 25% for road and 35% for rail.
• Speed of travel on a 500 km CAREC corridor section. Rose marginally from 20 km/hour (2013) to 20.8 km/hour (2014). For trains, border crossing continued to take long, leading to slower overall speed.
• Costs incurred in traveling a corridor section ($/500 km/ 20-ton load). Went down by about 7% from $1,467 (2013) to $1,360 (2014), primarily because of lower road transport costs.
The three technical assistance projects, funded by Japan’s Trade Facilitation Mechanism through the Japan Fund for Poverty Reduction, focusing on at the border, behind the border, and regional transit facilitation, proceeded on schedule. Agreement on country-specific implementation plans was reached during a special customs cooperation committee meeting in April 2014.
Improved Customs Services in the Kyrgyz Republic
The Regional Customs Modernization and Infrastructure Development Project made customs services more efficient and transparent, simplified procedures, and boosted regional customs cooperation by modernizing customs. The project developed the core unified automated information system (UAIS), corresponding application and operational support systems, and the communications infrastructure to support the UAIS and strengthen links between customs units.
Fully operational at all 37 border-crossing points, UAIS software and hardware have automated customs declarations, simplified procedures, and improved risk management. Supported by satellite-based communications, the UAIS enhances functionality of the single window for foreign trade. The State Customs Service estimated that 70% of customs declarations were processed by the UAIS in 2012, and 100% by 2014. Processing time dropped from 60 minutes in 2005 to 5–15 minutes in 2012.
Source: ADB. 2014. Completion Report: Regional Customs Modernization and Infrastructure Development Project in the Kyrgyz Republic. June. http://www.adb.org/sites/default/files/project-document/81223/38177-013-pcr.pdf
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EnergyEnergy sector work in 2014 focused on solving the uneven distribution of energy resources in the region. CAREC countries were urged to be more involved in regional energy initiatives. The Strategy for Regional Cooperation in the Energy Sector of CAREC Countries8 targets energy security, integrated energy markets, and energy trade–driven growth for CAREC countries. The Energy Work Plan9 for 2013–2015 translated the goals articulated in the Energy Action Plan Framework into programs and projects that lead to regional integration and trade, and establish national generation facilities, which will enable the export of energy to countries outside the region.
Energy results in 2014 are being consolidated. Data received in 2014 from Afghanistan, Kazakhstan, Mongolia, Pakistan, and Uzbekistan showed the following:
• Installed or upgraded transmission lines (km): 1,150 km• Increased energy-generation capacity (MW): 600 MW • Rehabilitated generation capacity (MW): 520 MW • Installed new substations (megavolt-ampere [MVA]): 4,200 MVA• Upgraded substations (MVA): 5,200 MVA
Progress was achieved to enhance the Central Asia–South Asia energy corridor. Under the Turkmenistan–Uzbekistan–Tajikistan–Afghanistan–Pakistan (TUTAP) Project initiative supported by ADB, the Tajikistan–Afghanistan and Uzbekistan–Afghanistan 220-kilovolt interconnections were operational, supplying the Afghanistan network with 650 gigawatt-hours (GWh) of electricity from Tajikistan and 1,500 GWh from Uzbekistan. Technical support activities assessing methodological and technical barriers facing regional power trade in Central Asia were implemented. Work on climate change–induced energy sector vulnerabilities continued, in addition to capacity-development activities for energy efficiency and regional energy trade.
8 Strategy for Regional Cooperation in the Energy Sector of CAREC Countries. Endorsed at the Seventh CAREC Ministerial Conference in 2008. http://www.carecprogram.org/uploads/docs /CAREC-Regional-Cooperation-Strategy-in-Energy.pdf
9 CAREC. 2012. Energy Sector Coordinating Committee Work Plan 2013–2015. October. http://www .carecprogram.org/uploads/docs/CAREC-Energy-Sector-Coordinating-Committee-Work -Plan-2013-2015.pdf
Connecting Afghanistan and Tajikistan
In Afghanistan, the Regional Power Transmission Interconnection Project constructed and commissioned a 220-kilovolt transmission line that stretches from the border with Tajikistan to Pul-e-Khumri substation, and upgraded substations, installing major equipment. In Tajikistan, the project built a 116.5-kilometer (km) transmission line from Sangtuda to the Pyanj River crossing for electricity export. These changes resulted in transmission capacity of 600 megawatts (MW). Power supply was restored in Afghanistan, where per capita consumption rose from 21 kilowatt-hours (kWh) per year in 2006 to 106 kWh in 2011, above the targeted 35 kWh. Retail electricity sales rose by 70% from 2009 to 2011. Grid-connected diesel generators were stopped, substantially lowering electricity costs. Tajikistan’s market access and export capability were improved: export capacity reached 200 MW, and 791 gigawatt-hours (GWh) of electricity worth $28.8 million were exported to Afghanistan in 2013.
The power purchase agreement between the two countries showed that regional cooperation in power trade can work. After electricity trade began in 2011, Tajikistan earned foreign exchange from its summer electricity surplus; Afghanistan’s electricity supply sources diversified; and expensive thermal generation was displaced, increasing energy security. Since 2013, Kabul, Afghanistan has had power almost all day compared with only 4 hours a day in 2002, and 760,000 households have electricity, of which 225,000 are newly connected. There are 15,000 new nondomestic consumers with an increase in commercial and/or industrial users.
Source: ADB. 2014. Completion Report: Regional Power Transmission Interconnection Project in Afghanistan and Tajikistan. Manila. http://www.adb.org/sites/default/files/PVR-338.pdf
Trade PolicyThe Trade Policy Strategic Action Plan10 (TPSAP) for 2013–2017 was expanded to cover (i) accession to the World Trade Organization (WTO) and post-accession adaptation, (ii) tariff reduction and elimination of nontariff barriers, and (iii) trade in goods and services. Capacity building and knowledge sharing continued to support the TPSAP.
Progress in achieving the updated TPSAP outputs was measured nominally, i.e., in terms of the number of member countries that
10 CAREC. 2013. Trade Policy Strategic Action Plan for 2013–2017, tabled at the Senior Officials’ Meeting, Central Asia Regional Economic Cooperation, 23–24 October 2013, Astana, Kazakhstan. http://www.carecprogram.org/uploads/events/2013/SOM-Oct-KAZ/002_107_212_Trade-Policy -Strategic-Action-Plan.pdf
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completed particular actions in relation to the targeted dates of implementation.11 At least half of the member countries reduced their average tariffs, capped them at 20%, tariffied quotas and licenses, eliminated discrepancies between taxes applied to domestic products and to imports, or converted taxes on imports to tariffs, while three countries nearly completed each action.12
ADB supported technical assistance on Strengthening Tajikistan’s Trade and Investment Regime and studied the organizational reform of Tajikstandart, the country’s standards agency. The research explored alternative organizational forms that would minimize conflicts of interest that arise from the agency’s multiple functions. It also determined the building blocks of reform and the missing links and a realistic time horizon for implementing reform.
The Trade Policy Coordinating Committee (TPCC) continued to deepen knowledge sharing and capacity building. At the 20th TPCC meeting, the World Bank presented the latest developments and analytical tools in services trade and nontariff measures. At the 21st TPCC meeting, the WTO briefed the committee on its capacity-building programs that are of interest to the CAREC countries. Member countries reviewed progress in implementing the updated TPSAP and remaining challenges.
Economic Corridor DevelopmentADB completed Operationalizing Economic Corridors in Central Asia: A Case Study of the Almaty–Bishkek Corridor,13 which customized the economic corridor development concept to the context of the CAREC region. A memorandum of understanding was signed between Almaty City and Almaty Oblast to further develop the economic corridor.
During the technical forum on the Almaty–Bishkek Corridor Initiative, national and city government representatives formulated an intercity memorandum of understanding to develop the corridor as an economic corridor. The first meeting of the joint working group took up agglomeration and urban-planning approaches in each city and complementarities between the two, and strategies in agriculture, tourism, finance, education,
11 Each member country prepares an annual implementation status report on the policy action matrix, which covers activities to be completed by the end of every year. The responses received are consolidated into a progress report and discussed at the subsequent Trade Policy Coordinating Committee meeting. Member countries highlight areas where they need targeted support from partners.
12 All CAREC members recognize the importance of the WTO agreements on sanitary and phytosanitary measures and technical barriers to trade. It is noteworthy that non-WTO member countries have accomplished many of these crucial actions prior to accession, given that five countries are still completing preparations for WTO membership and four still need to form their National Joint Transport and Trade Facilitation Committee permanent secretariats.
13 http://www.carecprogram.org/uploads/docs/CAREC-Publications/CAREC-ECD-study.pdf
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health, and infrastructure. A work plan was drafted, and terms of reference for knowledge studies outlined.
CAREC InstituteThe physical establishment of the CAREC Institute in Urumqi, Xinjiang Uygur Autonomous Region, People’s Republic of China, was officially announced during the 13th Ministerial Conference in November. CAREC ministers endorsed the institute’s guiding principles, purpose, and organization and establishment of the Governing Council of the CAREC Institute.
Contributions to Knowledge Knowledge management and capacity development are crucial to CAREC operations. CAREC’s key pursuits are generating knowledge through research and analysis; turning them into publications and databases; and sharing and exchanging information through training courses, workshops, electronic platforms, or other means.
Knowledge Generation: Analyses• “At the Border” and “Behind the Border”: Integrated Trade Facilitation—
Reforms and Implementation14 (March 2014) compiles proceedings of the inaugural CAREC Trade Facilitation Learning Opportunity in Tbilisi, Georgia, April 2013. It covers border management, joint customs control, and the role of automation.
• Managing for Development Results: Rail Infrastructure Tariffs—Enabling Private Sector Development in Mongolia’s Railway Sector15 (March 2014) examines the system of tariffs for the use of railway infrastructure to enable liberalization of the freight market in Mongolia.
• Analysis of Informal Obstacles to Cross-Border Economic Activity in Kazakhstan and Uzbekistan16 (May 2014). With a survey of 108 companies in manufacturing, transport, agriculture, and focus group discussions, it examines informal trade barriers and ways to overcome them.
• Climate Change and Sustainable Water Management in Central Asia17 (May 2014). Using field observations, satellite-based data, and created models, it demonstrates the impact of climate change on the hydrology of the Aral Sea Basin, and provides possible solutions.
14 http://www.carecprogram.org/uploads/docs/CAREC-Publications/At-the-Border.pdf 15 http://adb.org/sites/default/files/pub/2014/rail-infrastructure-tariffs-mongolia.pdf 16 http://www.adb.org/publications/analysis-informal-obstacles-cross-border-economic-activity
-kazakhstan-and-uzbekistan 17 http://adb.org/sites/default/files/pub/2014/cwa-wp-005.pdf
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• The Eurasian Connection: Supply Chain Efficiency along the Modern Silk Route through Central Asia18 (June 2014) explains how supply chain fragmentation remains an obstacle to economic development in Central Asia and to Eurasian integration more generally.
• Energy Security in Asia: Prospects for Regional Cooperation19 (September 2014). It examines the role of a sound evidence base for policies, agreements, and the development of electricity and gas markets in the subregion.
• Price of Electricity Transit in Transition Countries,20 by the Energy Charter Secretariat (October 2014), presents a new transit methodology that incorporates global practices. It reviews existing and proposed approaches to electricity transit and presents the most appropriate option for the Unified Power System of Central Asia.
• CAREC Corridor Performance Measurement and Monitoring Annual Report 201321 (June 2014) provides time and cost estimates of transporting goods across Central Asia.
• CAREC Corridor Performance Measurement and Monitoring: A Forward-Looking Retrospective22 (October 2014) traces the evolution of corridor performance measurement and monitoring, and examines and suggests ways to increase its value and analysis and to capture rail transport information.
Knowledge Services: TrainingA total of 626 participants (2,081 person-days) attended 13 CAREC-supported workshops and training events in 2014 (Table 2).
18 http://documents.worldbank.org/curated/en/2014/06/19705552/eurasian-connection-supply-chain -efficiency-along-modern-silk-route-through-central-asia
19 http://www.adb.org/publications/energy-security-asia-prospects-regional-cooperation 20 http://www.energycharter.org/what-we-do/trade-and-transit/trade-and-transit-thematic-reports/price
-of-electricity-transit-in-transition-countries-2014/ 21 http://www.carecprogram.org/uploads/docs/CAREC-CPMM-Reports/CAREC-CPMM-Annual
-Report-2013.pdf 22 http://www.adb.org/publications/carec-corridor-performance-measurement-and-monitoring-forward
-looking-retrospective
Table 2: Training Programs and Total Training Days, 2009–2014
Indicator
2009 Baseline
Value 2010 2011 2012 2013 2014Participants in CAREC-supported training programs (person-days) 1,825 1,349 1,582 1,328 953 2,081
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Knowledge Management: OutreachNine monthly and 10 weekly issues of the CAREC electronic newsletter, CAREC e-Alert, were circulated. CAREC-related articles appeared 272 times, 265 of which were unique—an increase from 194 times in 2013. CAREC was covered by 87 media organizations, including business newspapers such as the Mena Report; news agencies such as Interfax, AKIpress, Times of Central Asia, Central Asia News, Asia-PLUS, and Trend News Agency; and other national dailies and regional media organizations. Video films were produced in 2014 about CAREC developments such as ADB partnerships with Kazakhstan and Azerbaijan and the role of the Afghanistan Infrastructure Development Fund. The CAREC website features the latest information on program events, publications, and projects.
Resource MobilizationFinancing sources for the newly approved investments in 2014 are presented in Figures 4 and 5. ADB provided $110 million for energy rehabilitation and $871 million for multimodal CAREC corridors. Four CAREC governments invested $217 million in seven approved projects in 2014 in Afghanistan ($16 million), Azerbaijan ($95 million), the Kyrgyz Republic ($44.9 million), and Pakistan ($61 million). These were mainly counterpart resources for road network development as well as energy rehabilitation.
Figure 4: Loans and Grants Approved in 2014, by Financing Source
Asian Development Bank$981 million74%
CAREC Cofinanciers$9 million1%
CAREC Governments$217 million16%
Other Cofinanciers$121 million9%
Total$1.3 billion
Source: CAREC Program Portfolio.
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Figure 5: Loans and Grants Approved in 2014, by Sector
880
110 10042
175
21
CAREC Cofinanciers (including ADB) CAREC Governments Other Cofinanciers
1,000
800
600
400
200
0
Volu
me
($ m
illion
)
Transport Trade FacilitationEnergy
Source: CAREC Program Portfolio.
Table 3: Finance Mobilization—3-Year Rolling Average
Indicator
2006 Baseline
Value 2011 2012 2013 2014Annual volume of newly approved investment projects (3-year moving average, $ million) 603 3,609 3,114 2,439 1,996
Note: Figures that appeared in previous development effectiveness reviews have been adjusted to reflect updated project information. The figure for 2006 reflects data for 2004–2006; 2011 for 2009–2011, 2012 for 2010–2012, 2013 for 2011–2013, and 2014 for 2012–2014.
Source: CAREC Program Portfolio.
Technical assistance in support of CAREC operations proceeded at a tempered pace. Thirteen technical assistance projects equivalent to about $15.4 million were approved in 2014, 13% less than in the previous year, and at the lower end of the range for 2001–2014. Six were in transport ($7.2 million), three in energy ($3 million), two in trade policy (around $1.2 million), one each in trade facilitation ($1.5 million) and second-tier areas ($2.5 million). The amount of funds mobilized annually for investments is monitored using a 3-year moving average (Table 3). The indicator enables CAREC partners to analyze year-on-year trends relative to financing opportunities and priorities. The tapering of the overall 3-year average started in 2011 and could be the result of factors such as the cyclical nature of investments and possible changes in country priorities.
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CAREC Priorities for 2015The CAREC Development Effectiveness Review is a mechanism for monitoring past actions as well as a guide for the next priority interventions. The following section summarizes upcoming priorities to attain the twin goals of expanding trade and improving competitiveness.
Transport and Trade Facilitation• Mainstream priority projects into national development plans of
CAREC countries. Formulate a transport and trade facilitation work program starting in 2015.
• Harmonize work programs with Transport and Trade Facilitation Strategy (TTFS) 2020 and process new technical assistance to support implementation of the TTFS 2020, especially in road safety, road asset management, regional transit facilitation, and continued development of a GIS database to track implementation.
• Maximize the benefits for CAREC corridors by addressing key nonphysical barriers to cross-border transport and implementing the endorsed approach to corridor-based transport facilitation arrangements.
• Increase coordination between CAREC bodies on trade facilitation and trade policy, including the regional upgrade of Sanitary and Phytosanitary Measures for Trade, and plan a second phase of Regional Improvement of Border Services.
• To sustain operations growth, monitor financing requirements and implementation of medium-term priority projects.
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Energy• Formulate a strategic approach through a CAREC Energy Strategy
2020, backed with an energy sector program through the CAREC Energy Work Plan 2016–2020. The strategic plan could include new areas in existing elements of the current approach.
Trade Policy• Deepen implementation of the updated Trade Policy Strategic
Action Plan (TPSAP) to ensure sufficient progress in trade liberalization, including improvements in the institutional environment for trade. Periodically monitor and report on progress made under the updated TPSAP, to reflect actions made by CAREC members in line with the targeted implementation date.
• Promote the World Trade Organization (WTO) Accession Knowledge-Sharing Program. Closely collaborate with WTO’s Institute for Training and Technical Cooperation to ensure its active participation in CAREC’s capacity-development activities, and CAREC countries’ participation in such training activities.
Economic Corridor Development • Continue implementation of the Almaty–Bishkek Corridor Initiative
and explore development of a domestic economic corridor. Prepare a results framework for the program.
CAREC Institute • Commence operations with its management team on board in 2015.
A work plan for 2015–2016 will be prepared and endorsed by the Governing Council.
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istic
s per
form
ance
inde
x,
whi
ch a
sses
ses s
ix di
men
sions
(effi
cien
cy o
f cus
tom
s, qu
ality
of t
rans
port
infra
stru
ctur
e, e
ase
of a
rrang
ing c
ompe
titiv
ely p
riced
inte
rnat
iona
l shi
pmen
ts, lo
gist
ics
com
pete
nce,
abi
lity t
o tra
ck a
nd tr
ace
cons
ignm
ents
, and
tim
elin
ess o
f shi
pmen
ts),
rem
aine
d at
2.4
3 on
a sc
ale
of 1
to 5,
sim
ilar t
o 20
13 le
vels.
Intr
areg
iona
l en
ergy
trad
e (g
igaw
att-
hour
s [G
Wh]
) and
fore
ign
dire
ct in
vest
men
ts a
s a p
erce
ntag
e of
GD
P di
d no
t hav
e co
nsist
ent t
rend
s dur
ing 2
010–
2013
.
Tran
spor
t an
d Tr
ade
Faci
litat
ion
Ener
gyTr
ade
Polic
ySe
ctor
O
utco
mes
Com
petit
ive
corri
dors
est
ablis
hed
acro
ss C
ARE
C.
•By
2020
, inte
rregio
nal t
rade
valu
e in
crea
ses b
y five
tim
es (o
ver
the 2
005 b
aseli
ne: $
8.0 b
illion
). In
2014
, the f
igure
stoo
d at
$1
9.5 b
illion
.•
Spee
d wi
th d
elay t
o tra
vel 5
00
kilom
eter
s (km
) on
a CAR
EC
corri
dor s
ectio
n in
crea
ses b
y 30
% to
30 km
per
hou
r by 2
020
(ove
r the
2010
bas
eline
: 23.5
km
per h
our).
In 20
14, th
e out
com
e in
dica
tor w
as 20
.8 km
.
Sust
aina
ble,
safe
, and
use
r-fri
endl
y tra
nspo
rt an
d tra
de
netw
orks
dev
elop
ed in
the
CARE
C re
gion
.•
A re
gion
al ro
ad sa
fety
stra
tegy
pr
epar
ed b
y 201
7 an
d its
ta
rget
s ach
ieve
d by
the
CARE
C co
untri
es b
y 202
0.
In 2
014,
wor
k sta
rted
with
co
finan
cing
from
the
Peop
le’s
Repu
blic
of C
hina
Reg
iona
l Co
oper
atio
n an
d Po
verty
Re
duct
ion
Fund
.
Effic
ient
mov
emen
t of p
eopl
e an
d go
ods f
acilit
ated
th
roug
h CA
REC
corri
dors
and
acro
ss b
orde
rs.
•Ti
me
take
n to
cle
ar a
bor
der c
ross
ing:
14
.1 ho
urs i
n 20
14 (1
0.0
hour
s in
2013
)•
Cost
s inc
urre
d to
cle
ar b
orde
r cro
ssin
g:
$172
in 2
014
($23
5 in
2013
)•
Spee
d of
trav
el o
n a
500
km C
ARE
C co
rrido
r se
ctio
n: 2
0.8
km p
er h
our i
n 20
14 (2
0.0
km p
er
hour
in 2
013)
•Co
sts i
ncur
red
trave
ling a
cor
ridor
sect
ion
(per
500
km, p
er 2
0-to
n lo
ad):
$1,36
0 in
201
4 ($
1,467
in 2
013)
Effe
cts o
f une
ven
dist
ribut
ion
of
ener
gy re
sour
ces a
mon
g CA
REC
coun
tries
ove
rcom
e.•
Prog
ress
was
ach
ieve
d to
en
hanc
e th
e Ce
ntra
l Asia
–Sou
th
Asia
ene
rgy c
orrid
or.
Incr
ease
d co
ordi
natio
n an
d co
llabo
ratio
n be
twee
n th
e Tr
ade
Polic
y Coo
rdin
atin
g Co
mm
ittee
and
deve
lopm
ent
partn
ers t
o im
prov
e tra
de
open
ness
in C
ARE
C m
embe
r co
untri
es.
As o
f 201
4, th
e m
ajor
ity
of m
embe
r cou
ntrie
s co
mpl
eted
six o
f the
ni
ne p
olic
y act
ion
item
s th
at a
pply
to a
ll mem
ber
coun
tries
. Whe
re a
ctio
ns
wer
e st
ipul
ated
for s
peci
fic
coun
tries
, pro
gres
s was
less
vi
sible
.
A st
ockt
akin
g exe
rcise
as
sess
ed (i
) exis
ting s
anita
ry
and
phyt
osan
itary
and
tech
nica
l bar
riers
to tr
ade
mea
sure
s in
plac
e ac
ross
m
embe
r cou
ntrie
s, an
d (ii
) ex
istin
g bot
tlene
cks h
inde
ring
expa
nsio
n of
trad
e in
serv
ices.
20
21
Tran
spor
t an
d Tr
ade
Faci
litat
ion
Ener
gyTr
ade
Polic
ySe
ctor
O
utpu
tsM
ultim
odal
cor
ridor
est
ablis
hed.
•Ex
pres
sway
s or n
atio
nal
high
way
s bui
lt or
impr
oved
an
nual
ly: 1,
450
km in
201
4 (1
,312
in 2
013)
•Cu
mul
ativ
e pr
opor
tion
of
tota
l CA
REC
road
cor
ridor
s in
good
con
ditio
n: 74
% in
201
4 (8
5% in
201
3)•
Railw
ays b
uilt
annu
ally:
1,03
6 km
in 2
014
(0 in
201
3)•
Railw
ays i
mpr
oved
ann
ually
: 31
7 km
in 2
014
(0 in
201
3)
Ope
ratio
nal a
nd
inst
itutio
nal e
ffect
iven
ess
enha
nced
.•
Prio
rity i
nves
tmen
t pr
ojec
ts o
f tw
o pi
lot
coun
tries
(Afg
hani
stan
an
d Pa
kist
an)
map
ped
in ge
ogra
phic
in
form
atio
n sy
stem
us
ing d
ata
prov
ided
by
coun
tries
. •
Opt
ions
for f
inan
cing
th
roug
h to
ll roa
ds
stud
ied
in A
zerb
aija
n;
resu
lts w
ill in
form
fu
rther
act
ion
in o
ther
co
untri
es.
•W
orks
hops
on
cros
s-bo
rder
tran
spor
t and
ro
ad as
set m
anag
emen
t co
mpl
eted
.
Trad
e an
d bo
rder
-cr
ossin
g ser
vice
s im
prov
ed.
In S
epte
mbe
r 201
4,
five
CARE
C m
embe
r co
untri
es (P
eopl
e’s
Repu
blic
of C
hina
, Ka
zakh
stan
, Kyr
gyz
Repu
blic
, Taj
ikist
an,
and
Uzb
ekist
an)
and
the
Russ
ian
Fede
ratio
n sig
ned
the
Shan
ghai
Coo
pera
tion
Org
aniza
tion
(SCO
) ag
reem
ent o
n fa
cilit
atio
n of
cro
ss-b
orde
r roa
d tra
nspo
rt am
ong S
CO
mem
bers
.
Targ
eted
leve
ls fo
r dom
estic
and
cr
oss-
bord
er e
nerg
y pro
ject
s re
ache
d by
202
0. D
ata
rece
ived
in
201
4 fro
m A
fgha
nist
an,
Kaza
khst
an, M
ongo
lia, P
akist
an,
and
Uzb
ekist
an sh
owed
the
follo
win
g: •
Inst
alle
d or
upg
rade
d tra
nsm
issio
n lin
es (k
ilom
eter
s):
1,150
•In
crea
sed
ener
gy-g
ener
atio
n ca
paci
ty (m
egaw
atts
[MW
]):
600
•Re
habi
litat
ed ge
nera
tion
capa
city
(MW
): 52
0 •
Inst
alle
d ne
w su
bsta
tions
(m
egav
olt-
ampe
res [
MVA
])
4,20
0•
Upg
rade
d su
bsta
tions
(MVA
) 5,2
00
The
Wor
ld T
rade
O
rgan
izatio
n (W
TO)
colla
bora
ted
with
the
Inte
rnat
iona
l Mon
etar
y Fun
d an
d th
e A
sian
Dev
elop
men
t Ba
nk (A
DB)
in c
apac
ity
deve
lopm
ent a
nd a
gree
d to
as
sist i
n ac
cess
ion
and
post
-ac
cess
ion
wor
k.
Prel
imin
ary t
abul
atio
ns
of u
pdat
ed T
rade
Pol
icy
Stra
tegi
c A
ctio
n Pl
an
(TPS
AP)
impl
emen
tatio
n in
201
4 w
ere
pres
ente
d at
the
21st
Tra
de P
olic
y Co
ordi
natin
g Com
mitt
ee
mee
ting i
n Bi
shke
k, Ky
rgyz
Re
publ
ic in
Nov
embe
r 201
4.
Six o
ut o
f the
ten
coun
tries
su
bmitt
ed in
form
atio
n fo
r th
e pr
elim
inar
y tab
ulat
ions
of
TPS
AP
impl
emen
tatio
n pr
ogre
ss in
201
4, so
the
over
all t
abul
atio
n w
as
deem
ed p
artia
l.
AD
B su
ppor
t for
St
reng
then
ing T
ajik
istan
’s Tr
ade
and
Inve
stm
ent
Regi
me
cont
inue
d w
ork
on o
rgan
izatio
nal r
efor
ms
of T
ajik
istan
Sta
ndar
ds
Age
ncy (
Tajik
stan
dart)
and
as
sess
men
t of p
ost-
WTO
ac
cess
ion.
22Tr
ansp
ort
and
Trad
e Fa
cilit
atio
nEn
ergy
Trad
e Po
licy
Sect
or
Inve
stm
ents
an
d In
terv
entio
ns
11 pr
ojec
ts fo
r roa
ds a
nd ra
ilway
s com
plet
ed d
urin
g Jan
uary
–Dec
embe
r 201
4.65
pro
ject
s for
road
s and
railw
ays o
ngoi
ng in
201
4.
13 p
hysic
al in
frast
ruct
ure
proj
ects
bei
ng im
plem
ente
d in
oth
er tr
ansp
ort s
ubse
ctor
s (tw
o po
rt an
d sh
ippi
ng p
roje
cts,
two
logi
stic
s cen
ters
, thr
ee b
orde
r-cr
ossin
g poi
nts,
six c
ivil
avia
tion
proj
ects
).
Wor
k und
erta
ken
to c
ompl
emen
t phy
sical
inve
stm
ents
and
supp
ort C
ARE
C co
untri
es in
op
erat
iona
l and
inst
itutio
nal s
treng
then
ing:
•Su
ppor
t kno
wle
dge
shar
ing a
nd se
rvic
es. R
egio
nal t
echn
ical
ass
istan
ce 8
789:
Kno
wle
dge
Shar
ing a
nd S
ervi
ces i
n Tr
ansp
ort a
nd T
rans
port
Faci
litat
ion
appr
oved
in D
ecem
ber
2014
, with
fund
ing f
rom
the
Asia
n D
evel
opm
ent B
ank (
AD
B) ($
1.4 m
illion
) and
the
Peop
le’s
Repu
blic
of C
hina
Reg
iona
l Coo
pera
tion
and
Pove
rty R
educ
tion
Fund
($0.
4 m
illion
). Fo
cus a
reas
bas
ed o
n Tr
ansp
ort a
nd T
rade
Faci
litat
ion
Stra
tegy
(TTF
S) 2
020
oper
atio
nal p
riorit
ies i
n tra
nspo
rt an
d tra
nspo
rt fa
cilit
atio
n.•
Enha
nce
road
safe
ty. R
egio
nal t
echn
ical
ass
istan
ce 8
804:
Enh
anci
ng R
oad
Safe
ty fo
r CA
REC
Mem
ber C
ount
ries a
ppro
ved
in D
ecem
ber 2
014.
Out
puts
are
a C
ARE
C ro
ad
safe
ty st
rate
gy, s
treng
then
ed c
apac
ity o
f CA
REC
mem
ber c
ount
ries t
o m
anag
e an
d co
ordi
nate
road
safe
ty a
ctiv
ities
, incl
udin
g im
prov
ed d
ata
colle
ctio
n an
d ro
ad-c
ollis
ion
rese
arch
.•
Use
of g
eogr
aphi
c in
form
atio
n sy
stem
to tr
ack p
rogr
ess o
n TT
FS 2
020.
AD
B re
gion
al te
chni
cal a
ssist
ance
814
7: Fa
cilit
atin
g Cro
ss-B
orde
r Tra
nspo
rt in
the
CARE
C Re
gion
(Pha
se 1)
supp
orts
CA
REC
’s in
itiat
ive
to im
prov
e cr
oss-
bord
er tr
ansp
ort i
n th
e CA
REC
regi
on.
3 pro
ject
s com
plet
ed d
urin
g Ja
nuar
y–D
ecem
ber i
n 20
14.
21 p
roje
cts f
or e
nerg
y ong
oing
in
201
4.
AD
B te
chni
cal a
ssist
ance
for
CARE
C Po
wer
Sec
tor F
inan
cing
Ro
adm
ap w
as a
ppro
ved
in
Sept
embe
r 201
4. A
list o
f en
ergy
sect
or p
riorit
y pro
ject
s co
nsol
idat
ed b
y the
Ene
rgy S
ecto
r Co
ordi
natin
g Com
mitt
ee w
ith
inpu
ts fr
om C
ARE
C m
embe
rs’
natio
nal in
vest
men
t pla
ns.
Uni
ted
Stat
es A
genc
y for
In
tern
atio
nal D
evel
opm
ent
(USA
ID) t
hrou
gh it
s Reg
iona
l En
ergy
Sec
urity
, Effi
cien
cy
and
Trad
e (R
ESET
) Pro
gram
, co
mm
issio
ned
a st
udy o
f co
nditi
ons o
f par
alle
l ope
ratio
n of
pow
er sy
stem
s of s
outh
ern
Kaza
khst
an, t
he K
yrgy
z Rep
ublic
, an
d Ta
jikist
an in
rela
tion
to th
e pr
opos
ed c
onst
ruct
ion
of n
ew
trans
miss
ion
faci
litie
s.
Wor
k on
ener
gy–w
ater
linka
ges
cont
inue
d. A
Wor
ld B
ank s
tudy
pl
an (i
t was
in th
e in
cept
ion
stag
e) fo
r Ene
rgy V
ulne
rabi
lity t
o Cl
imat
e Ch
ange
was
pre
sent
ed
in S
epte
mbe
r 201
4. It
soug
ht to
in
crea
se u
nder
stan
ding
of c
limat
e ch
ange
–ind
uced
ene
rgy s
ecto
r vu
lner
abilit
ies a
nd b
uild
resil
ienc
e th
roug
h co
ordi
nate
d ad
apta
tion
polic
ies.
Act
iviti
es c
ontin
ued
unde
r the
en
ergy
sect
or c
apac
ity-b
uild
ing
and
know
ledg
e fra
mew
ork f
or
2013
–201
5.
Four
sets
of a
ctiv
ities
un
derta
ken.
Firs
t, ad
vanc
e th
e W
orld
Tra
de
Org
aniza
tion
Acc
essio
n Kn
owle
dge-
Shar
ing P
rogr
am
and
supp
lem
ent t
he re
gion
al
prog
ram
with
cou
ntry
-sp
ecifi
c te
chni
cal a
ssist
ance
.
Seco
nd, in
itiat
e im
plem
enta
tion
of th
e up
date
d Tr
ade
Polic
y St
rate
gic
Act
ion
Plan
(T
PSA
P) b
y eac
h CA
REC
mem
ber c
ount
ry.
Third
, bui
ld c
apac
ity o
f an
d sh
are
know
ledg
e am
ong C
ARE
C m
embe
r co
untri
es o
n tra
de p
olic
y iss
ues.
Two
roun
dtab
le
disc
ussio
ns c
over
ed p
rogr
ess
mad
e an
d ch
alle
nges
fa
ced
in im
plem
entin
g the
up
date
d TP
SAP,
and
role
of
deve
lopm
ents
par
tner
s.
23Tr
ansp
ort
and
Trad
e Fa
cilit
atio
nEn
ergy
Trad
e Po
licy
•In
May
201
4, a
bout
50
parti
cipa
nts f
rom
CA
REC
mem
ber c
ount
ries a
nd A
rmen
ia
and
Geo
rgia
atte
nded
the
Ener
gy E
ffici
ency
Tra
inin
g Se
min
ar: C
entra
l and
Wes
t A
sia R
egio
n in
Kua
la L
umpu
r, M
alay
sia.
•In
Sep
tem
ber 2
014,
the
Regi
onal
En
ergy
Tra
de W
orks
hop,
or
gani
zed
by A
DB
in M
anila
in
Sept
embe
r 201
4 dr
ew le
sson
s fro
m re
gion
al e
nerg
y tra
de
arra
ngem
ents
.
Four
th, a
naly
tical
inpu
ts fo
r po
licy m
aker
s’ w
orks
hops
. At
the
21st
Tra
de P
olic
y Co
ordi
natin
g Com
mitt
ee
mee
ting i
n N
ovem
ber 2
014,
th
e W
orld
Ban
k pre
sent
ed
the
late
st d
evel
opm
ents
and
to
ols i
n tra
de in
serv
ices
and
no
ntar
iff m
easu
res.
Impl
emen
ting
Bodi
es
The
CARE
C Tr
ansp
ort S
ecto
r Coo
rdin
atin
g Com
mitt
ee a
nd C
usto
ms C
oope
ratio
n Co
mm
ittee
join
tly im
plem
ent t
he C
ARE
C Tr
ansp
ort a
nd T
rade
Faci
litat
ion
Stra
tegy
(T
TFS)
. The
TTF
S 20
20 re
fined
the
stra
tegy
and
cla
ssifi
ed th
e se
ctor
out
puts
into
th
ree
oper
atio
nal p
riorit
y are
as: (
i) m
ultim
odal
cor
ridor
net
wor
k dev
elop
men
t, (ii
) tra
de a
nd b
orde
r-cr
ossin
g ser
vice
impr
ovem
ents
, and
(iii)
ope
ratio
nal a
nd in
stitu
tiona
l st
reng
then
ing.
The
Ener
gy S
ecto
r Coo
rdin
atin
g Co
mm
ittee
impl
emen
ts th
e 20
13–
2015
wor
k pla
n, w
hich
prio
ritize
d six
ele
men
ts:
•de
velo
p a
Cent
ral A
sia–S
outh
A
sia c
orrid
or,
•re
solv
e en
ergy
disp
atch
and
tra
de is
sues
,•
man
age
ener
gy–w
ater
linka
ges,
•m
obiliz
e fu
nds t
o bu
ild e
nerg
y as
sets
, •
impl
emen
t ene
rgy p
riorit
y pr
ojec
ts, a
nd•
build
cap
acity
and
man
age
know
ledg
e.
The
Trad
e Po
licy
Coor
dina
ting C
omm
ittee
co
ordi
nate
s act
ivitie
s un
der t
he u
pdat
ed T
rade
Po
licy S
trate
gic A
ctio
n Pl
an
(TPS
AP)
for 2
013–
2017
, w
hich
cove
rs (i
) red
ucin
g an
d ra
tiona
lizin
g the
tra
de-im
pedi
ng im
pact
of
sani
tary
and
phyt
osan
itary
an
d te
chni
cal b
arrie
rs to
tra
de m
easu
res,
and
(ii)
expa
ndin
g tra
de in
serv
ices.
The
upda
ted
plan
reta
ins
the
origi
nal t
hree
obj
ectiv
es
of th
e 20
08–2
012 p
lan:
(i)
achi
eve
WTO
acce
ssio
n, (i
i) ac
hiev
e m
ore
trade
ope
nnes
s in
depe
nden
t of W
TO
acce
ssio
n, an
d (ii
i) de
velo
p ca
paci
ty o
n tra
de is
sues
.
Sour
ce: C
ARE
C Pr
ogra
m P
ortfo
lio, S
ecto
r Pro
gres
s Rep
orts
.
CAREC Secretariatwww.carecprogram.org
Asian Development Bank6 ADB Avenue, Mandaluyong City1550 Metro Manila, Philippineswww.adb.org
Central Asia Regional Economic Cooperation ProgramDevelopment Effectiveness Review 2014
This Central Asia Regional Economic Cooperation (CAREC) Program Development Effectiveness Review is the sixth annual consolidated picture of progress made by country and multilateral institution partners of CAREC toward economic development through regional cooperation. It measures the performance of CAREC projects and initiatives in transport, trade, and energy during 2014; highlights achievements; identifies areas for improvement; and proposes actions to meet emerging challenges and assist in strategic decision making.
About the Central Asia Regional Economic Cooperation Program
The CAREC Program is a practical, project-based, and results-oriented partnership that promotes and facilitates regional cooperation in transport, trade, energy, and other key sectors of mutual interest. CAREC has 10 member countries: Afghanistan, Azerbaijan, the People’s Republic of China, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan. Six multilateral institutions support CAREC’s work: the Asian Development Bank (ADB), the European Bank for Reconstruction and Development, the International Monetary Fund, the Islamic Development Bank, the United Nations Development Programme, and the World Bank. ADB serves as the CAREC Secretariat.
Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)
© 2015 ADB. The CC license does not apply to non-ADB copyright materials in this publication. Publication Stock No. ARM157813-2
