ADB okays $400m regional border plan
The ADB listed Pakistan among 60 nations that may face 10% to 12.5% additional US tariffs from July 24. It said recent policy developments indicate US trade restrictions are likely to remain broad despite the Supreme Court’s invalidation. photo:REUTERS
The Asian Development Bank (ADB) has approved a $400 million regional financing facility to modernise border crossing points, lower transport and logistics costs, and improve the movement of people and goods across the Central Asia Regional Economic Cooperation (CAREC) region, the bank said on Thursday.
The Border Upgrades for Integration, Logistics, and Development (BUILD) facility will support priority investments to modernise border crossing points and strengthen connectivity and competitiveness across the region. "Borders are not just checkpoints. These are gateways to create jobs, regional markets, and income opportunities," said ADB Director General for Central and West Asia Leah Gutierrez.
Border crossing points remain bottlenecks across CAREC corridors due to growing trade volumes, infrastructure constraints, and the need for further modernisation of border management systems. These constraints cause economic losses for transport operators, traders and passengers. BUILD will finance priority border investments across CAREC countries, including upgrades to rail and road crossing points. The facility will support modern infrastructure, digital systems and high-tech inspection equipment to reduce crossing times and costs.
BUILD will also strengthen institutional capacity, support transport reforms and promote private sector participation, creating opportunities for micro, small and medium-sized enterprises to participate in regional trade.