ADB to en­hance re­gional con­nec­tiv­ity in Cen­tral Asia

Enterprise - - National news -

The Cen­tral Asia Re­gional Eco­nomic Co­op­er­a­tion (CAREC) pro­gramme, un­der um­brella of the Asian De­vel­op­ment Bank (ADB), has un­der­taken $1 bil­lion projects in Pak­istan since its in­cep­tion, mainly in road in­fras­truc­ture with the pur­pose to en­hance re­gional con­nec­tiv­ity.

Since 2001, almost $28 bil­lion of CAREC-re­lated in­vest­ments have up­graded key re­gional links, mod­ernised trade in­fras­truc­ture, boosted en­ergy sup­ply and co­op­er­a­tion in the re­gion.

Sean O’Sul­li­van, ADB’s Di­rec­tor Gen­eral for Cen­tral West Asia Depart­ment, told re­porters on the side­lines of the 49th an­nual meet­ing of the ADB that the CAREC ini­tia­tive was meant to con­struct eco­nomic cor­ri­dors and $22 bil­lion were meant only for the trans­port and road sec­tor.

The ADB had helped Islamabad to con­struct road net­work from Faisal­abad to Mul­tan. Now the ADB is plan­ning to fo­cus on the Pak­istan Rail­ways (PR) un­der which the PR will be re­struc­tured to make it eco­nom­i­cally vi­able.

The CAREC part­ner­ship works to cre­ate a net­work of mul­ti­modal trans­port cor­ri­dors that open up eco­nomic op­por­tu­ni­ties and in­ter­con­ti­nen­tal trade, build­ing a global fu­ture for Eura­sia. CAREC builds trans­port in­fras­truc­ture and moves peo­ple and goods across bor­ders faster and at

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