| Project Detail |
Project Name Fostering Expanded Regional Electricity and Gas Interconnection and Trade under the CAREC Energy Strategy 2030
Project Number 54019-001
Country Regional
Afghanistan
Azerbaijan
Georgia
Kazakhstan
Kyrgyz Republic
Mongolia
Pakistan
China, Peoples Republic of
Tajikistan
Turkmenistan
Uzbekistan
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6540-REG: Fostering Expanded Regional Electricity and Gas Interconnection and Trade under the CAREC Energy Strategy 2030
United Kingdom Fund for Asia Regional Trade and Connectivity under the Regional Cooperation and Integration Financing Partnership Facility US$ 2.50 million
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector
Energy / Energy sector development and institutional reform
Gender Equity and Mainstreaming Some gender elements
Description
The knowledge and support technical assistance (TA) will support the implementation of the CAREC Energy Strategy 2030 in achieving its long-term vision of a reliable, sustainable, resilient and reformed regional energy market by 2030. The TA particularly aims at improving regional energy connectivity, scaling-up investments and achieving higher sustainability and inclusiveness in CARECs energy sector. To achieve these goals, the TA will (i) produce preparatory works for the establishment of a new regional transmission cooperation association, (ii) strengthen government capacity to carry out market reforms and attract investors, (iii) establish a financing vehicle for green energy projects and foster consumer awareness for energy efficiency and (iv) establish a women-in-energy program to increase women participation in the energy sector. These activities are expected to significantly improve regional energy security and cooperation.
The TA fully aligns with the Operational Plan for Regional Cooperation and Integration 2019-2024. It supports its overall vision of a region where sustained cooperation among countries is a foundation for advancing trade, investment, and provision of regional public goods and closely aligns with strategic operational priority 1 (greater and higher quality connectivity between economies) and strategic operational priority 2 (global and regional investment opportunities expanded). The TA is also fully aligned with the ADB Strategy 2030 (operational priority 2: accelerating progress in gender equality; operational priority 3: tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; operation priority 6: strengthening governance and institutional capacity and operational priority 7: fostering regional cooperation and integration). Moreover, the TA is aligned with the CAREC Strategy 2030 and the CAREC Energy Strategy 2030. Both strategies are closely aligned with the national strategies of CAREC member countries, where energy security, energy sector reform and greening of the energy system are among the strategic priorities to achieve reliable and sustainable energy supply for final consumers in the region. |
