Central Asia Regional Economic Cooperation Program

The Central Asia Regional Economic Cooperation (CAREC) Program is an Asian Development Bank (ADB) supported initiative which was established in 1997 to encourage economic cooperation among countries in the Central Asian region. In particular, cooperation among the ADB member states of,
* Afghanistan
* Azerbaijan
* People's Republic of China (focusing on Xinjiang Uygur Autonomous Region)
* Kazakhstan
* Kyrgyz Republic
* Mongolia
* Tajikistan
* Uzbekistan

The CAREC program has focused to date on financing infrastructure projects and improving the region's policy environment in the priority areas of transport (especially road transport), energy (including the water-energy nexus), trade policy, and trade facilitation (especially customs cooperation). As of 31 December 2004, the ADB had approved seven regional investment projects totaling $275.1 million, mobilized cofinancing of $135.2 million for three of these projects, and approved 22 technical assistance grants totaling $12.9 million [ ] . In 2005-2006, investment projects totaling $247 million and technical assistance grants are planned totaling $12.3 million.

External links

* [http://www.adb.org/CAREC/default.asp CAREC program at the Asian Development Bank]

Central Asia Regional Economic Cooperation - CAREC

The Central Asia Regional Economic Cooperation (CAREC) Program was initiated in 1997. CAREC’s goal is to improve living standards and to reduce poverty in CAREC countries through more efficient and effective regional economic cooperation. To date, the Program has focused on financing infrastructure projects and improving the region's policy environment in the priority areas of: (i)transport, (ii) energy, (iii) trade policy, and (iv) trade facilitation. These areas are critical to improving the region’s economic performance and livelihoods of the people, especially of the poor.

Spanning nearly 4,000 kilometres across Central Asia, the CAREC Program includes 8 countries in the Central Asia region, namely: Afghanistan, Azerbaijan, People's Republic of China (focusing on Xinjiang Uygur Autonomous Region), Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, and Uzbekistan. In addition, invitations to participate are under consideration by Turkmenistan and Russian Federation.

CAREC is also an alliance of multilateral institutions active in promoting economic cooperation in Central Asia. CAREC is also an alliance of multilateral institutions comprising Asian Development Bank, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme, and World Bank. ADB’s CAREC Unit (CARECU) has served as the Program Secretariat since March 2000.

CAREC operates in partnership with other key regional cooperation programs and institutions, including the Shanghai Cooperation Organization* and the Eurasian Economic Community.

CAREC indeed represents a true, robust development partnership; a concrete example of countries and institutions cooperating; one which also achieves the ideals set out in the Paris Declaration on Aid Effectiveness – namely: ownership, harmonization, alignment, results and mutual accountability.

CAREC is a powerful platform to marshal financial resources. The combined assistance of the multilateral institutions in the priority areas of transport, energy and trade during 2006-2008 totals $2.3 billion for 42 projects.

Wikimedia Foundation. 2010.

Look at other dictionaries:

  • Asia-Pacific Economic Cooperation — APEC redirects here. For other uses, see APEC (disambiguation). The Asia Pacific Economic Cooperation (APEC) …   Wikipedia

  • History of Central Asia — The history of Central Asia has been determined primarily by the area s climate and geography. The aridity of the region makes agriculture difficult, and its distance from the sea cut it off from much trade. Thus, few major cities developed in… …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Asia — /ay zheuh, ay sheuh/, n. a continent bounded by Europe and the Arctic, Pacific, and Indian oceans. 2,896,700,000; ab. 16,000,000 sq. mi. (41,440,000 sq. km). * * * I Largest continent on Earth. It is bounded by the Arctic Ocean, the Pacific Ocean …   Universalium

  • Asia/Pacific Group on Money Laundering — The Asia/Pacific Group on Money Laundering (also known as the APG or APGML) is the FATF style regional body for the Asia/Pacific region. It is an autonomous international organisation founded in 1997 in Bangkok, Thailand. The APG consists of 38… …   Wikipedia

  • Central University of Finance and Economics — 中央财经大学 Motto 忠诚 团结 求实 创新 Motto in English Loyalty, Unity, Truth, Innovation Established 1949 Type National university …   Wikipedia

  • Economic history of Cambodia — Pre colonial economyColonial economySoon after establishing their protectorate in 1863, the French realized that Cambodia s hidden wealth was an illusion and that Phnom Penh would never become the Singapore of Indochina. Aside from collecting… …   Wikipedia

  • Central Intelligence Agency — CIA redirects here. For other uses, see CIA (disambiguation). Central Intelligence Agency Official Seal of the CIA Agency overview Formed September 18, 1947 …   Wikipedia

  • ECONOMIC HISTORY — This article is arranged according to the following outline: first temple period exile and restoration second temple period talmudic era muslim middle ages medieval christendom economic doctrines early modern period sephardim and ashkenazim… …   Encyclopedia of Judaism

  • economic systems — Introduction       the way in which humankind has arranged for its material provisioning. One would think that there would be a great variety of such systems, corresponding to the many cultural arrangements that have characterized human society.… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.