ASHGABAT, Turkmenistan, April 19. The total volume of investments under the Central Asia Regional Economic Cooperation (CAREC) Program, launched by the Asian Development Bank (ADB), in Turkmenistan's energy projects in the period from 2001 through 2023 amounted to $1.37 billion, Trend reports.
CAREC data show that Turkmenistan ranks third in terms of investments in energy projects, which accounted for 10.8 percent during this period.
Uzbekistan ranks first in terms of energy investments with a share of 40.4 percent, followed by Afghanistan with 11.5 percent.
The volume of investments in Turkmenistan under the program from 2001 through 2023 reached $13.04 billion.
Since 2001, CAREC investments have amassed nearly $51.02 billion, spanning 276 regional projects. ADB's contribution exceeds $17.60 billion, while other partners have provided $23.37 billion, and CAREC governments themselves have invested $10.05 billion.
The distribution of investments reveals that transport projects claimed the largest share, amounting to 67.5 percent, followed by energy at 24.9 percent, and trade facilitation and policy at 2.7 percent.
Meanwhile, the Asian Development Bank (ADB) developed the Central Asia Regional Economic Cooperation (CAREC) Program in 1997 to promote economic cooperation between Central Asian countries and neighboring Transcaucasia and South Asia regions.
Currently, the CAREC Program, involving 11 countries and development partners, aims to foster economic growth and reduce poverty through cooperation.