December 7, 2023
2 mins read

How World Bank Strengthens Central Asia’s Socio-Economic Fabric

The World Bank has made net commitments totalling USD 3.5 billion across seven active regional integration projects in Central Asia…reports Asian Lite News


For more than thirty years, the World Bank has consistently supported the development efforts of Central Asian countries, striving to improve living standards and promote economic growth.

According to the World Bank, embracing a forward-looking strategy, the Bank is intensifying its regional approach, promoting cross-border cooperation, dialogues, and knowledge exchange, with a particular focus on vital sectors such as energy, water, transportation, and healthcare.

Increased electricity trade among Central Asian countries could conservatively generate economic benefits of up to USD 6.4 billion between 2020 and 2030.

The World Bank has made net commitments totalling USD 3.5 billion across seven active regional integration projects in Central Asia.

Estimated costs from insufficient cooperation in the use of regional water-energy resources amount to more than USD 4.5 billion per year.

The Climate Adaptation and Mitigation Program for Aral Sea Basin (CAMP4ASB) has reached nearly 135,000 beneficiaries, creating over 27,500 jobs since 2014.

CAWEP has facilitated 23 water, energy, and environmental investments worth approximately USD 3.78 billion since 2009.

A road rehabilitation project in Kyrgyz Republic since 2010 directly benefited 1.2 million people, enhancing connectivity and economic opportunities.

World Bank Plans Packages For Poorest Nations

The Kazakhstan – East West Roads Project significantly reduced cargo transportation time along the Western Europe – Western China road corridor from 45 days to 8-10 days.

Despite challenges in connectivity and climate vulnerability, the World Bank aims to turn regional coordination into a development opportunity.

The World Bank is working closely with Central Asian countries to strengthen connections in water and energy, trade and logistics, climate change, information technology, and healthcare.

A regional electricity market is being developed to harness economic benefits and enhance energy interconnectivity, emphasizing a diverse energy mix.

The Central Asia Water and Energy Program (CAWEP) has been instrumental in supporting regional cooperation, facilitating investments, and enhancing sector capacity.

Sustainable Land Management for Economic Growth:

Sustainable land management measures, including efficient irrigation systems, led to income increases for over 10,000 farmers in Uzbekistan and Tajikistan.

The World Bank committed USD 1.3 billion to mitigate COVID-19 impacts, supplying ventilators and supporting social protection programs.

A Central Asia One Health Framework for Action is being developed to address zoonotic diseases, antimicrobial resistance, and food safety.

The World Bank collaborates with various partners, including the Central Asia Regional Economic Cooperation (CAREC) Program, Asian Development Bank (ADB), European Union, Switzerland, United Kingdom, EBRD, IMF, USAID, UNDP, AIIB, EIB, IsDB, and others to amplify its impact.

As the World Bank marks its 30th anniversary of engagement in Central Asia, it underscores a shared vision with the countries, focusing on regional challenges and global goals. The Bank remains committed to innovative approaches and sustained collaboration, aiming for a resilient, sustainable, and prosperous future for Central Asia. (ANI)

ALSO READ: AQUA Properties Dives into the Future

ALSO READ: Adani Climbs to 15th Richest Globally

Previous Story

xAI, Musk’s Startup, Eyes $1B Funding

Next Story

Ajay Banga Charts IDA’s Path to Global Progress

Latest from -Top News

India, Japan Eye Deeper Global Role

PM Modi will embark on his journey on August 29, which also marks his first annual summit with PM Ishiba….reports Asian Lite News Prime Minister Narendra Modi will meet Japanese counterpart Shigeru

Bangladesh Election 2026: Renewal or Ruin?

If reforms are upheld, February 2026 could mark a democratic turning point for Bangladesh. If not, the polls risk repeating a cycle of mistrust and division….reports Asian Lite News On 5 August

Organ Mafia Carves Up Pakistan’s Poor

What makes these crimes even more disturbing is the involvement of medical professionals. Surgeons, anaesthetists, and nurses—sworn to save lives—are repeatedly implicated….reports Asian Lite News The rescue of a young man in

Yunus Says Bangladesh ‘Stable, Ready for Polls’

Yunus stated that Bangladesh has reached a “stable enough” position and is ready to hold polls…reports Asian Lite News Bangladesh’s Chief Adviser Muhammad Yunus on Monday announced that national elections will be
Go toTop

Don't Miss

World Bank lowers Pakistan’s growth forecast

World Bank’s Country Director Najy Behhassine said that Pakistan would

Biden to Bat For ‘Reshaping’ World Bank, IMF At G20

Biden will leave for New Delhi on Thursday, National Security