CAREC development partners in the transport sector share responsibility in providing directions and drawing up priority actions. This section provides a communication platform for development partners to present projects and transport initiatives as well as features works and achievements of development partners in the CAREC Transport program.<\/p>\n\n\n\n
Asian Infrastructure Investment Bank (AIIB)<\/strong><\/p>\n\n\n\n AIIB is a multilateral development bank focused on financing sustainable infrastructure that fosters regional connectivity and economic integration. With 109 approved members and a capital base of USD 100 billion, AIIB supports CAREC transport priorities through sovereign-backed loans, co-financing with development partners, and active participation in sector coordination.<\/p>\n\n\n\n AIIB plays a growing role in developing the Trans-Caspian Multi-modal transport corridor, primarily through support to CAREC Corridors 2, 5, and 6. To date, the Bank has committed over USD 1 billion to transport infrastructure in Kazakhstan, Uzbekistan, and T\u00fcrkiye\u2014enhancing road and rail linkages from Central Asia to the South Caucasus and Europe.<\/p>\n\n\n\n AIIB collaborates closely with ADB, EBRD, and the World Bank, leveraging joint financing and technical expertise. As a CAREC development partner, AIIB participates in the Transport Sector Coordinating Committee (TSCC) and contributes to regional policy dialogue on infrastructure, digitalization, and green transition.<\/p>\n\n\n\n Through its focus on green, resilient, and connective infrastructure, AIIB is helping to transform the Corridor into a competitive and climate-smart trade route linking Asia and Europe.<\/p>\n\n\n\n AIIB Flagship Transport Projects<\/a><\/strong><\/p>\n\n\n\n Eurasian Fund for Stabilization and Development (EFSD)<\/strong><\/p>\n\n\n\n The Eurasian Fund for Stabilization and Development (EFSD) is an international financial institution and regional financing arrangement totaling over US $9 billion, established in 2009. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.<\/p>\n\n\n\n Since its establishment, the Fund has been supporting its member states in stabilizing their economies, advancing their structural reform agendas, recovering their key infrastructure, and financing of projects in the social sphere.<\/p>\n\n\n\n In order to fulfill its mandate and effectively support its membership, the EFSD cooperates with various development partners, including in CAREC region. As a CAREC development partner, EFSD participates in the Transport Sector Coordinating Committee (TSCC) and other sector-specific groups, as well as Ministerial Meetings.<\/p>\n\n\n\n View – EFSD regional transport projects<\/a><\/strong><\/p>\n\n\n\n European Bank for Reconstruction and Development (EBRD)<\/strong><\/p>\n\n\n\n The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991 to promote the development of the private sector and entrepreneurial initiatives. The EBRD is owned by 75 countries from five continents, as well as the European Union (EU) and the European Investment Bank. As a multilateral developmental bank, the EBRD uses investments as a tool to build market-oriented economies in 38 countries across three continents: from the Southern and Eastern Mediterranean to Central and Eastern Europe, and to Central Asia.<\/p>\n\n\n\n The EBRD gained unique expertise in fostering change in the region and making the economies competitive, inclusive, well-governed, green, resilient, and integrated, and beyond investing more than \u20ac210 billion in a total of over 7,400 projects in 36 countries of operations. Its operations span a range of industries: from support to financial institutions and manufacturing to agribusiness and infrastructure, including the transport sector.<\/p>\n\n\n\n View EBRD \u2013 Development Partner, April 2024<\/a><\/p>\n\n\n\n International Transport Corridor Europe\u2013the Caucasus\u2013Asia (TRACECA)<\/a><\/p>\n\n\n\n The International Transport Corridor Europe-the Caucasus-Asia (TRACECA) Programme was initiated by the EU in May 1993 at the Conference in Brussels with the following objectives as provided for by the Multilateral Agreement (MLA):<\/p>\n\n\n\n The Intergovernmental Commission (IGC) is the highest decision-making authority of TRACECA for the effective functioning of the corridor. The IGC consists of the highest governmental officials of the MLA Parties with the IGC chairmanship rotating every year. The Permanent Secretariat (PS) IGC TRACECA is the executive authority of the IGC, headed by the Secretary General, with headquarters in Baku, Azerbaijan and the Permanent Representations in each of the MLA Parties.<\/p>\n\n\n\n TRACECA signed a Memorandum of Understanding<\/a> with the CAREC Institute<\/a> in September 2018 to broaden cooperation in the exchange of experiences and resources as well as plan for joint trainings and events.<\/p>\n\n\n\n View TRACECA Update, 2022<\/a><\/strong><\/p>\n\n\n\n United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)<\/a><\/strong><\/p>\n\n\n\n The Economic and Social Commission for Asia and the Pacific (ESCAP) serves as the United Nations (UN) regional hub promoting cooperation among countries to achieve inclusive and sustainable development. The largest regional intergovernmental platform, with 53 member states and 9 associate members, ESCAP has emerged as a strong regional think tank offering countries sound analytical products on evolving economic, social, and environmental dynamics of the region.<\/p>\n\n\n\n The overall objective of ESCAP is to promote inclusive and sustainable economic and social development in the Asia and Pacific region, with priority accorded to the implementation of the 2030 Agenda for Sustainable Development and the achievement of the Sustainable Development Goals. ESCAP pursues this objective by carrying out work, in close cooperation with other UN entities and intergovernmental organizations in the region in eight areas including transport. By supporting the development of an intermodal regional network, incorporating the Asian Highway network, the Trans-Asian Railway network, and the network of Dry Ports, ESCAP works to strengthen connectivity, optimize the use of existing infrastructure, and increase the level of integration between the different transport modes<\/p>\n\n\n\n ESCAP has been an active CAREC transport development partner and contributed to several CAREC Transport Sector Coordinating Committee meetings and other events on cross-border transport, road safety, and recently, on railways. In 2015, it hosted the first technical consultation on Quadrilateral Traffic in Transit Agreement to improve transit traffic operations between the People\u2019s Republic of China (PRC), Kazakhstan, the Kyrgyz Republic, and Pakistan. Two Railway Working Group (RWG) meetings were co-chaired by ESCAP in 2016 and 2019. In the recent RWG meeting held in Bangkok, Thailand, ESCAP shared the importance of electronic exchange of information between railways, and among railways and border agencies; as well as interoperability and streamlined border crossing arrangements.<\/p>\n\n\n\n\n