Several important regional strategies involving trade, energy and transportation will be discussed at the CAREC Ministerial Conference.

While in Baku, Mr. Kuroda will also meet with the country authorities, as well as with Azerbaijan’s Minister of Economic Development Mr. Shahin Mustafayev.

CAREC is an alliance of eight countries - Afghanistan, Azerbaijan, People’s Republic of China, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan - with the common goal of promoting economic cooperation and development in Central Asia. CAREC nations partner with six multilateral institutions - the Asian Development Bank, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme and the World Bank - who combine their assistance in the priority areas of transport, energy and trade.

The Asian Development Bank is a multilateral development bank, owned by 67 member countries. ADB’s main instruments for developing its member countries are policy dialogue, loans, equity investments, guarantees, grants and technical assistance. This year ADB adopted Strategy 2020, a long-term strategic framework that follows three complementary strategic agendas: inclusive growth, environmentally sustainable growth, and regional integration.