ADB approves USD 400 mln BUILD facility for CAREC borders
The Asian Development Bank (ADB) launched a 400 million US dollars financing facility to modernize border crossing points and improve trade flows across the CAREC region, Qazinform News Agency cites the Bank’s press service.
The Border Upgrades for Integration, Logistics, and Development (BUILD) will finance priority investments in rail and road border crossings.
Focus areas include modern infrastructure and digital systems, high-tech inspection and screening equipment, and harmonized border procedures to cut crossing times and costs.
Strategic goals are to reduce bottlenecks caused by rising trade volumes and outdated border management, lower transport and logistics costs, while improving connectivity and competitiveness, create opportunities for micro, small, and medium enterprises (MSMEs) in agriculture, tourism, and transport services and support regional cooperation against risks such as human trafficking, environmental issues, and public health concerns.
The CAREC Program includes Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan, working together with development partners to promote sustainable growth.
As written before, ADB approves $5 million emergency grant for Nepal flood relief.
