ADB, Central Asia Partners Unveil Climate Initiatives to Boost Resilience and Green Growth

Asian Development Bank (ADB) President Masatsugu Asakawa delivered a keynote address highlighting the importance of the CCAP and CSPPF in driving climate action across the region.

At the 23rd Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference in Astana, member countries endorsed a new Climate Change Action Plan (CCAP) and established the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF), marking significant steps toward building climate resilience, fostering low-carbon growth, and promoting sustainable development across Central Asia and beyond. The conference also featured the endorsement of the Midterm Review of the CAREC 2030 Strategy, which calls for stronger regional cooperation and a shift toward climate-smart development.

Asian Development Bank (ADB) President Masatsugu Asakawa delivered a keynote address highlighting the importance of the CCAP and CSPPF in driving climate action across the region. “The approval of the CAREC Climate Change Action Plan and the establishment of the Climate and Sustainability Project Preparatory Fund are significant milestones in our collective efforts to address climate change,” said Asakawa. “By working together, we can build resilient infrastructure, develop early warning systems, and create a greener future powered by renewable energy.”

Key Goals of the CAREC Climate Change Action Plan (CCAP) 2025–2027

The CCAP, slated for implementation from 2025 to 2027, emphasizes four core priorities aligned with the CAREC Climate Change Vision:

Enhanced Climate Risk Preparedness: Assisting CAREC countries to better prepare for and respond to climate-related risks.

Water-Energy-Food Nexus Management: Strengthening collaboration across these vital resources to boost climate resilience.

Low-Carbon Growth: Promoting renewable energy adoption, emission reduction, and sustainable growth.

CAREC Climate Platform: Establishing a centralized platform for member countries to coordinate and share climate initiatives and best practices.

Launch of CAREC Sustainability Project Fund

The CSPPF is designed to help member countries develop viable, bankable regional climate projects that align with Paris Agreement commitments. ADB signed initial fund contribution agreements totalling $5 million with contributions from the Ministry of Finance of the People’s Republic of China and the Ministry of Economy and Finance of the Republic of Korea to jumpstart the fund.

Strengthening Ties with Kazakhstan and ADB’s Regional RoleDuring his visit to Kazakhstan, President Asakawa met with Kazakh President Kassym-Jomart Tokayev to discuss further collaboration and signed a loan agreement for the reconstruction of 208 kilometers of road in central Kazakhstan, which will enhance regional trade connectivity and infrastructure. ADB’s support to Kazakhstan, since the country joined the bank in 1994, includes around $7 billion in investments covering public and private sector projects aimed at economic resilience and sustainable development.

Celebrating 30 Years of ADB-Kazakhstan Partnership

As part of commemorations marking 30 years of partnership between ADB and Kazakhstan, Asakawa underscored the mutual achievements in advancing economic development, infrastructure improvement, and regional cooperation. This continued partnership highlights ADB’s commitment to supporting Central Asia’s sustainable growth through projects in sectors ranging from climate resilience to economic modernization.

By strengthening regional collaboration, ADB and CAREC partners aim to address the dual challenges of climate adaptation and economic development, with an eye on future generations and a sustainable future for the entire region.