Astana: Member countries of the Central Asia Regional Economic Cooperation (CAREC) Programme have endorsed a new Climate Change Action Plan (CCAP) and launched the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) to strengthen regional collaboration on climate resilience, low-carbon growth, and sustainable development.

According to Emirates News Agency, the endorsement took place at the 23rd CAREC Ministerial Conference held Friday in Astana. Ministers also endorsed the Midterm Review of the CAREC 2030 Strategy, which recommended reinvigorating regional cooperation and enhancing operations toward climate-smart development and regional public goods, among others.

“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 Asian Development Bank (ADB) President Masatsugu Asakawa, who delivered a keynote address at the conference. “By
working together, we can build resilient infrastructure, develop early warning systems, and create a greener future powered by renewable energy.”

The CAREC Programme is a partnership of countries in Central Asia, the Caucasus, South Asia, and East Asia, and development partners aiming to promote sustainable development through regional cooperation. It facilitates practical, results-based regional projects and policy initiatives to accelerate economic growth and reduce poverty in the region. ADB hosts the CAREC Secretariat.

The CCAP, spanning from 2025 to 2027, prioritizes initiatives to implement the CAREC Climate Change Vision. It focuses on four main areas to tackle climate challenges in the region. It aims to help countries better prepare for and respond to climate risks; enhance the water-energy-food nexus; promote low-carbon growth by reducing emissions and expanding renewable energy; and create a CAREC climate platform.

The CSPPF will assist CAREC countries in developing bankable regional climate pro
jects aligned with their commitments under the Paris Agreement. Today, ADB also signed fund contribution agreements with the Ministry of Finance of the People’s Republic of China and the Ministry of Economy and Finance of the Republic of Korea, generating a total of $5 million initial funding for CSPPF.