ADB Unveils $10 Billion CAREC Boost, Pledges $700 Million for Kyrgyzstan’s Green and Connected Future
At the 24th Ministerial Conference of the Central Asia Regional Economic Cooperation (CAREC) Program in Bishkek on November 20, Asian Development Bank (ADB) President Masato Kanda announced that the bank will provide more than $10 billion in financing through 2030 to strengthen regional integration, connectivity, and resilience.
The CAREC Program unites 11 member countries—Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan—alongside international development partners to advance sustainable economic growth through regional cooperation. Since 2001, CAREC has mobilized about $54 billion in funding for regional initiatives, with ADB serving as the host of the CAREC Secretariat.
“Our vision for CAREC is clear: a region that is economically resilient, environmentally sustainable, socially inclusive, and digitally connected,” Kanda said in his keynote address. “We are scaling up support with over $10 billion in financing through 2030. These projects will catalyze greater integration, resilience, and shared growth.”
Ministers at the conference endorsed the Bishkek Declaration, launching formal negotiations on trade and investment facilitation. The effort aims to reduce cross-border barriers, increase investment flows, and strengthen cooperation in areas such as digital trade and the green economy.
On the sidelines, Kanda met with Kyrgyz President Sadyr Japarov to reaffirm ADB’s support for the country’s development agenda. ADB plans to provide over $700 million in financing for Kyrgyzstan between 2025 and 2027. “The Kyrgyz Republic has shown remarkable commitment to building a greener, more connected, and resilient future,” Kanda said. “As the country’s largest multilateral development partner, ADB is ready to deepen support for national priorities and strengthen Kyrgyzstan’s role as a regional leader in connectivity and clean energy.”
Kanda also met with Chairman of the Cabinet of Ministers Adylbek Kasymaliev to sign a memorandum of understanding with the Ministry of Finance. The agreement establishes a financing framework for 2026–2027 and includes three projects from the existing 2025 program, focusing on green transformation, disaster resilience, and affordable housing.
Together, the 2025 and planned 2026–2027 packages amount to more than $700 million in ADB support for Kyrgyzstan. Upcoming projects will aim to boost energy efficiency and climate resilience in public infrastructure, improve water resource management and disaster preparedness, and expand access to energy-efficient housing and affordable mortgage financing.
