The Asian Development Bank (ADB) is expanding its support for regional cooperation programmes, including the Central Asia Regional Economic Cooperation (CAREC) Programme. Under the new strategy, the bank intends to increase the share of operations aimed at supporting cross-border initiatives to 30 per cent by 2030.
According to the ADB, the new Operational Strategy for Enhancing Regional Cooperation and Integration, approved in March, aims to expand cross-border trade and investment, strengthen economic resilience and address common environmental challenges.
As part of the strategy, the ADB intends to prioritise the development of cross-border transport, energy and digital links, the simplification of trade procedures, the protection of natural resources and the enhancement of disaster resilience.
In Central Asia, the Bank is supporting efforts to modernise border crossing points and streamline trade procedures as part of the CAREC programme. These measures are designed to improve transport links and facilitate the movement of goods between countries in the region.
“We need to step up our cooperation, even now, when it is becoming increasingly difficult,” he said at the opening of a conference on regional cooperation and integration in Manila.
