ADB Set to Ink Almaty–Bishkek Corridor Agreement

Asian Development Bank (ADB) President Masato Kanda has announced a major milestone for regional integration, revealing that “Tomorrow, we will sign the Almaty-Bishkek Economic Corridor Border Services Project”.

Speaking at the CAREC Business Forum in Bishkek, Kanda highlighted the agreement as a pivotal step in boosting regional connectivity under the Central Asia Regional Economic Cooperation (CAREC) program, The Caspian Post informs via Kazakh media.

He underscored the growing momentum behind CAREC Corridor 2, noting that discussions at the forum centered on the Kyrgyz Republic’s ambitions to position itself as a key hub for regional trade and transport.

“For CAREC specifically, ADB is mobilizing around $4 billion in the next few years to support priority projects along Corridor 2,” he said. The upcoming Almaty-Bishkek project, Kanda added, is “an example of how cooperation can modernize border crossings and make trade flow seamlessly.”

He also emphasized a strategic shift toward private sector development within the ADB. “Recognizing the potential, ADB has made private sector development our top priority,” he noted, pointing out that private sector operations have more than doubled since 2022.

Looking ahead, Kanda reaffirmed the bank’s ambitious goals: “we aim to increase private sector financing fourfold to $13 billion annually by 2030,” signaling strong support for investment, innovation, and sustainable growth across the region.

Earlier, the information went viral that a new ADB program will help Kyrgyzstan and Tajikistan strengthen their disaster response capabilities.