ISLAMABAD: The Asian Development Bank (ADB) has announced plans to invest over $10 billion by 2030 to support projects under the Central Asia Regional Economic Cooperation (CAREC) programme, aiming to build a digitally connected and resilient region.

During the conference in Bishkek on Friday, CAREC ministers announced the endorsement of the ‘Bishkek Declaration.’ This declaration aims to initiate negotiations focused on trade and investment facilitation. The goal is to reduce trade barriers, enhance investment flows, and promote cooperation in emerging areas such as digital trade and the green economy.

Communication Minister Abdul Aleem Khan represented Pakistan at the ministerial conference.

ADB’s investment aims to foster regional connectivity, clean energy, digital transformation, and inclusive infrastructure across the CAREC region. This is connectivity with a purpose, one that makes commerce smoother and more inclusive. These projects will catalyse greater integration, resilience, and shared growth,” ADB President Masato Kanda said while addressing the conference.

The CAREC Programme is a partnership of countries and development partners working together to promote sustainable development and economic growth through regional cooperation. Since 2001, the programme has mobilised about $54bn in investments for regional projects.

IT minister formalises MoUs for investment, digital corridor

The ministerial was preceded by the CAREC Business Forum, which brought together about 150 leaders from the private sector, governments, and development partners. The forum explored opportunities for transforming CAREC corridors into engines of economic growth, digital innovation, and climate resilience. The next Ministerial Conference will be held in Mongolia in 2026, marking the 25th anniversary of the CAREC Programme.

ADB is also supporting the CAREC Climate and Sust­ainability Project Preparatory Fund to help countries design bankable, climate-aligned projects. It is already supporting five regional initiatives, with a new batch to be finalised soon.

“We are also advancing new vehicles like the CAREC Innovation and Venture Investment Facility to nurture a new generation of entrepreneurs and the Borders Upgrades for Integration, Logistics, and Development (BUILD) Facility to streamline border modernisation and logistics,” said the ADB president.

He added that these platforms show ADB’s value beyond lending. They show we bring ideas, standards, and coalitions that enable countries to move faster together.

CAREC’s strength lies in its ability to plan long-term while delivering short-term results. Through the CAREC Digital Corridor, we are helping to build the region’s digital backbone, a terrestrial and fiber-optic network that will connect people and markets across borders.

Pakistan inks two MoUs

According to an Associated Press of Pakistan report, IT and Telecommunication Minister Shaza Fatima Khawaja also participated in the Ministerial Conference held under the theme “Green and Digital”.

On the margins of the conference, the IT minister formalised two significant memoranda of understanding on behalf of the Government of Pakistan.

The first pertains to the CAREC Innovation and Venture Investment Catalyst (CIVIC) Facility, which seeks to establish a structured, long-term mechanism to nurture and empower a new generation of early-stage venture fund managers across the region.

The second MoU concerns the CAREC Digital Corridor Initiative, which aims to further cross-border digital cooperation, strengthen innovation ecosystems, and facilitate digital trade.

The initiative seeks to provide Central Asian states with an alternative, high-capacity, and resilient internet transit gateway through Pakistan, strengthening regional digital connectivity and building long-term infrastructural resilience.

These agreements represent an important step toward deepening Pakistan’s engagement in shared digital priorities and advancing collective progress through strengthened multilateral cooperation.

The CAREC Digital Corridor represents a major step forward for regional connectivity.

For Pakistan, it aligns closely with the Connect Pakistan 2030 Plan, which prioritises inclusive connectivity and an expanded digital economy.

Published in Dawn, November 22nd, 2025