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ADB tallies CAREC program-driven investments in Azerbaijan

Finance Materials 5 April 2024 20:36 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 5. ADB has named the volume of investments in Azerbaijan under the CAREC program, Trend reports.

A graphic depicting the investments made by each country under the Asian Development Bank's (ADB) Central Asia Regional Economic Cooperation (CAREC) initiative by the end of 2023 demonstrates Azerbaijan's strong influence in the area.

According to the figures supplied, Azerbaijan is third in terms of investment, accounting for 13.5% of the total of $51.02 billion.

Investments in Azerbaijan total $6.9 billion. This statistic shows the country's strategic relevance in CAREC and its appeal to regional investors. It is vital to highlight that such a high investment value shows Azerbaijan's economic stability and future development possibilities.

To note, since 2001, CAREC investments have totaled nearly $51.02 billion in 276 regional projects. ADB has contributed more than $17.6 billion, other partners have provided $23.37 billion, and CAREC member governments have invested $10.05 billion.

Transport projects received the largest share of investment at 67.5 percent ($34.45 billion), followed by energy at 24.9 percent ($12.71 billion).

The CAREC program, involving 11 countries and development partners, aims to promote economic growth and poverty reduction through cooperation.

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