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ADB and EBRD to Work Together on Investments in Energy Networks in the Caucasus and Central Asia

ADB-EBRD21 November 2011: The Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) have agreed to cooperate on energy projects to build capacity and promote public private partnerships across the Caucasus and Central Asia.

ADB and EBRD signed a Memorandum of Understanding (MoU) to cooperate on projects in Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan and Uzbekistan and support market-oriented private sector development, and the boosting of public-private partnerships and building energy networks.

ADB and EBRD are also partners in the Central Asian Regional Economic Cooperation (CAREC) program, which later this week celebrates its 10th Anniversary with a Ministerial Conference in Baku, Azerbaijan. [ADB News]