Astana, Kazakhstan: The Central Asia Regional Economic Cooperation (CAREC) Program’s member nations have approved a new Climate Change Action Plan (CCAP) and established the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) to improve regional cooperation on sustainable development, low-carbon growth, and climate resilience.
The endorsement happened today in Astana during the 23rd CAREC Ministerial Conference. In addition, ministers approved the Midterm Review of the CAREC 2030 Strategy.
This included recommendations for improving operations toward climate-smart development and regional public goods for reviving regional collaboration.
Asian Development Bank (ADB) President Masatsugu Asakawa, delivered a keynote address at the conference, said, “The approval of the CAREC Climate Change Action Plan and the establishment of the Climate and Sustainability Project Preparatory Fund are significant milestones in our collective efforts to address climate change.”
“By working together, we can build resilient infrastructure, develop early warning systems, and create a greener future powered by renewable energy.”
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A coalition of nations from Central Asia, the Caucasus, South Asia, and East Asia, together with development partners, the CAREC Program seeks to advance sustainable development through regional collaboration.
It supports realistic, outcomes-driven regional projects and policy initiatives aimed at boosting economic expansion and lowering poverty in the area. ADB hosted “The CAREC Secretariat.”
From 2025 to 2027, the CCAP gives priority to projects that carry out the CAREC Climate Change Vision. It addresses climatic issues in the region by concentrating on four key areas.
Its objectives are to promote low-carbon growth by lowering emissions and increasing renewable energy, strengthen the water-energy-food nexus, assist nations in better preparing for and responding to climate hazards, and establish a CAREC climate platform.
The CSPPF will help CAREC nations create regional climate projects that are bankable and in line with their Paris Agreement pledges.
ADB also inked fund contribution agreements with the Ministry of Economy and Finance of the Republic of Korea and the Ministry of Finance of the People’s Republic of China today, resulting in $5 million in initial funding for CSPPF.
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Mr. Asakawa met with President Kassym-Jomart Tokayev while in Kazakhstan to discuss continued collaboration and upcoming projects with ADB.
He will also be present at the signing of a loan deal to rebuild 208 kilometers of road in central Kazakhstan and take part in a ceremony commemorating 30 years of ADB and Kazakhstan’s collaboration.
ADB has given around $7 billion in loans, grants, and technical assistance for public and private sector development projects and initiatives since Kazakhstan joined the organization in 1994.
ADB is dedicated to ending extreme poverty while working for a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. 49 members from the area, it was founded in 1966 and currently has 69 members.
