Kazakhstan Receives Over $9 Billion in CAREC Investments

The Central Asia Regional Economic Cooperation (CAREC) Program has invested more than $9 billion in Kazakhstan projects out of nearly $51 billion across Central Asia in over 20 years, said Prime Minister Olzhas Bektenov at the 23rd CAREC Ministerial Conference, The Caspian Post reports, citing Astana Times.

In a statement released by the Prime Minister’s press service, Bektenov reaffirmed Kazakhstan’s commitment to collaboration with international financial bodies and CAREC member states, focusing on the agro-industrial complex, emphasizing deep processing and boosting processed exports. He also expressed Kazakhstan’s interest in large-scale infrastructure projects to enhance Central Asia’s transport connectivity and energy sustainability.

The conference aimed to expand cooperation among CAREC Program countries and international financial institutions to foster integrated and sustainable development in Central Asia. The CAREC Program, an initiative of the Asian Development Bank (ADB), is implemented with support from leading global financial organizations.

Participants endorsed a new Climate Change Action Plan and launched the CAREC Climate and Sustainability Project Preparatory Fund, focusing on human capital development and improving regional quality of life.

ADB President Masatsugu Asakawa emphasized that CAREC prioritizes decisive actions against climate change, building resilient infrastructure with early warning systems, advancing digital transformation, and promoting innovation.

During a meeting between President Kassym-Jomart Tokayev and Asakawa last week, the officials discussed economic priorities, including a $300 million agreement for the Kyzylorda-Zhezkazgan highway.