BAKU, Azerbaijan, November 15. The Central Asia Regional Economic Cooperation (CAREC) program stands capable of mobilizing financing for cross-border projects, the Vice President of the Asian Development Bank (ADB) for South, Central, and West Asia, Yingming Yang, said during the ministerial dialogue on Promoting the Energy Transition Based on Renewable Energy in Central Asia today, Trend reports.
"As a trusted development partner and climate bank in the Asia-Pacific region, the ADB can support the organization of regional cooperation. In particular, the CAREC program, for which ADB serves as the secretariat, can play a key role."
"CAREC can facilitate high-level dialogues and provide a platform for coordinated actions among countries to address both opportunities and challenges. The CAREC program is capable of mobilizing financing for cross-border projects, strengthening institutional and technical capacities, and ensuring that investments in regional infrastructure are efficient and sustainable.
By utilizing the resources and expertise of CAREC, Central Asian countries can accelerate the creation of integrated and sustainable renewable energy markets. Furthermore, CAREC can promote knowledge exchange and the sharing of best practices," he added.
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