CAREC Corridor 2 (Middle Corridor) Development Strategy (ADB-58055-001)

Countries
  • Azerbaijan
  • Georgia
  • Kazakhstan
  • Kyrgyzstan
  • Tajikistan
  • Turkmenistan
  • Uzbekistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 29, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Regional
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Technical Cooperation
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.23 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 0.23 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 19, 2024

Disclosed by Bank May 13, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, this small-scale TA focuses on establishing an institutional framework enabling the abovementioned prioritization through preparing a draft strategy of the corridor development and launching inclusive consultation process to make this strategy live and useful corridor development tool for the benefit of all economies connected by this CAREC Corridor 2.

In the 2020s, the connectivity between the People's Republic of China (PRC) and Europe and between the economies of the Caucasus and Central Asia (CCA) and their partners in the West and the East was adversely affected by major shocks associated with the COVID-19 pandemic and different conflicts. These shocks incentivized different stakeholders to focus on developing other, previously less popular routes, such as CAREC Corridor 2 -Europe-Mediterranean-East Asia- also known as Middle Corridor. This multimodal transport and transit route crosses many borders and has many stakeholders - governments, businesses, and development partners. It is universally recognized that the corridor's development requires regional cooperation and close coordination between different types of stakeholders, prioritizing activities capable of improving its performance most efficiently. There is also an emerging understanding that CCA economies will be the main beneficiaries of this corridor development.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Grant (Regional Cooperation and Integration Fund): US$ 225,000.00


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CONTACT INFORMATION

Project Officer: Roman Mogilevskii
Designation: Senior Economist- Asian Development Bank
Email: rmogilevskii@adb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works