The Asian Development Bank (ADB), the Asian Infrastructure Investment Bank (AIIB), and the energy ministries of Azerbaijan, Kazakhstan, and Uzbekistan have joined forces through a Memorandum of Understanding (MoU) to support a feasibility study for the Caspian Green Energy Corridor Project. This collaboration is part of ADB's ongoing regional efforts to provide technical assistance and help bring this green energy initiative to life.
The MoU sets up a comprehensive framework for collaboration, emphasizing the creation of a strong institutional and legal structure to enable cross-border electricity trade between Azerbaijan, Kazakhstan, and Uzbekistan. The project seeks to enhance regional energy cooperation and encourage green energy trade among the countries in the Central Asia Regional Economic Cooperation Program (CAREC).
“The Caspian Green Energy Corridor initiative is a priority for all three countries, as well as for ADB. It directly advances our core mission of fostering cross-border cooperation on clean energy infrastructure while addressing regional challenges. The MoU signing marks a milestone in our collaboration, setting the stage for deeper cooperation between Azerbaijan, Kazakhstan, Uzbekistan, and the multilateral partners—ADB and AIIB,” Yevgeniy Zhukov, ADB Director General for Central and West Asia, highlighted the project's strategic importance.
The project will focus on linking energy systems and creating a green corridor for the transmission and trade of renewable energy. This includes transferring green energy from the Caspian region to Europe via the Black Sea Cable. The initiative supports ADB's goal of fostering sustainable development and regional cooperation, aiming to enhance energy security, sustainability, and economic growth in the region.
CAREC, a partnership that includes Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, Tajikistan, Turkmenistan, Uzbekistan, and development partners, strives to drive development through collaboration, boosting economic growth and reducing poverty.
Founded in 1966, ADB is a key multilateral development bank focused on promoting sustainable, inclusive, and resilient growth across Asia and the Pacific. Through innovative financial solutions and strategic partnerships, ADB is dedicated to transforming lives, building quality infrastructure, and safeguarding the environment.
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