Islamabad: Asian Development Bank (ADB) is looking to synergise China-Pakistan Economic Corridor (CPEC) and Central Asia Regional Economic Cooperation (CAREC), a news source reported.
ADB Country Head Yang Xiaohong said that various efforts are underway in CAREC to promote regional integration and create economic values for member countries.
CAREC had been launched two decades ago by ADB to encourage economic cooperation among the 11 member countries.
Pakistan joined CAREC in 2018 and since then, USD 1.5 billion has been invested in projects related to building trade and transport connectivity.
Other CAREC members include Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan and Uzbekistan.
Meanwhile, China has pledged more than USD 60 billion under the CPEC framework to improve energy, industrial and transport infrastructures in Pakistan and to improve its economic link across the Arabian Sea.
