ADB approves technical assistance to development of transport corridors within CAREC

ADB approves technical assistance to development of transport corridors within CAREC

Azerbaijan, Baku, Oct. 16 /Trend J.Nasibova/

The Asian Development Bank (ADB) has approved the technical assistance in the amount of $1.5 million to development of transport corridors within the CAREC program (Central Asia Regional Economic Cooperation), the ADB report published on Tuesday on official website of the bank stated.

The technical assistance is directed to realization of CAREC goal on development of general transport corridors in the region as well as on simplification of transport and trade procedures through cooperation in construction modernization and reconstruction fields.

According to the report some $839.5 thousand of contributed sum are directed to international consultations, $330 thousand - to local consultations, $100 thousands - to local and international transportation, $50 thousand- to trainings and conferences, $10 thousand - to purchase of equipment, $10 thousand - to development of reports and communications.

According to the CAREC strategy, great achievements have been made in rehabilitation of transport infrastructure. According to the totals of 2011, the total length of constructed highways amounted to 3.512 kilometers, which confirms the operative condition of 79 percent CAREC transport corridors.

According to the report, the progress of work within the strategy and future action plan have to be reconsidered in order to reassure its effectiveness and actuality for remaining period of its implementation.

The CAREC program assists Central Asia countries and their neighbors in realization of their economical potential through promotion of regional cooperation in 4 major fields: transport, trade stimulation, trade policy and energy.

After joining the CAREC program in 2002 Azerbaijan has invested around $3 billion in program projects. Azerbaijani government have contributed around $6 billion to development of transport corridor within CAREC. Azerbaijan's reconstruction of East West highway within CAREC program has transformed the country into a more effective corridor between Caspian and Black seas, which contributed to promotion of trade between Europe and Asia.

The CAREC program established in 1997 is a partnership of 10 countries- Azerbaijan, Afghanistan, China, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan and 6 multilateral institutions: ADB, European Bank of Reconstruction and Development, International Monetary Fund, Islamic Development Bank, UN Development program and World Bank.

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