Asian Development Bank Approves $400 Million Facility to Modernize Borders in Central Asia
The Asian Development Bank (ADB) has approved a $400 million regional financing facility, named the Border Upgrades for Integration, Logistics, and Development (BUILD) facility. This initiative aims to modernize border crossing points, reduce transport and logistics costs, and enhance the movement of people and goods across the Central Asia Regional Economic Cooperation (CAREC) region. The BUILD facility will fund priority investments, including upgrades to rail and road border crossing points, implementation of modern infrastructure, digital systems, and high-tech inspection and screening equipment. It also seeks to streamline and harmonize border procedures to decrease crossing times and costs. Additionally, the facility will bolster institutional capacity, support transport and logistics reforms, and encourage greater private sector involvement. The CAREC Program is a collaborative effort among Afghanistan, Azerbaijan, the People's Republic of China, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, P...