TASHKENT, Uzbekistan, April 5. The Asian Development Bank (ADB) has revealed the volume of investments in Uzbekistan under the Central Asia Regional Economic Cooperation (CAREC) program, Trend reports.
According to data from the ADB-launched CAREC program, the overall investment volume in Uzbekistan was $13.04 billion as of December 2023.
Uzbekistan's contribution to the CAREC project portfolio reached 25.6 percent. The country received the most investment during that time.
Since 2001, CAREC has invested $51.02 billion over 276 regional initiatives. The ADB pledged more than $17.60 billion, other partners provided $23.37 billion, and CAREC countries contributed $10.05 billion.
Transportation projects received the highest funding, at 67.5 percent, followed by energy (24.9 percent) and trade facilitation and policy (2.7 percent).
Among the countries under the program, Kazakhstan follows Uzbekistan in the volume of investments at 18.6 percent of the of the share ($9.4 billion).
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.