- Enabling environment/capacity building for project proponents
- Project scoping, ideation, and concept note development
- Development of pre-feasibility studies
- Development of feasibility studies
The CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) is a multi-partner trust fund established to support the preparation of bankable climate- and SDG-related regional projects in the CAREC region. In November 2023, the CAREC Ministerial Conference endorsed the CAREC Climate Change Vision, designed to support member countries in fulfilling their Paris Agreement commitments and advancing the United Nations 2030 Sustainable Development Agenda.
The CSPPF will address CAREC countries' financing gaps in climate action and sustainable development by facilitating the preparation of bankable regional projects. This mechanism streamlines the identification, preparation, and structuring of climate- and SDG-aligned initiatives consistent with member countries' environmental commitments.
The CSPPF will support projects and activities aligned with the following objectives:
- Enhance the capacity of CAREC member countries in incorporating climate- and other SDG-related features in the design of regional projects in traditional and emerging sectors;
- Facilitate cooperation between CAREC member countries on planning, designing, and implementing regional projects, including those that involve transboundary climate spillovers (positive and negative); and
- Help prepare and structure sound, bankable regional projects that support joint initiatives and programs to reduce greenhouse gas (GHG) emissions and develop regional carbon trading.
The CSPPF will support regional projects across CAREC 2030’s operational clusters, guided by the seven priority sectors and/or areas under the CAREC Climate Change Vision: (i) energy, (ii) water, (iii) agriculture, (iv) transport, transit, and trade, (v) climate-smart cities, (vi) climate-related disasters, and (vii) health, education, and social protection. Fund allocation will be flexible in the relevant sectors and thematic areas in line with the priorities of the CAREC countries.
The CSPPF will support projects and activities that satisfy the following requirements: (i) Help prepare and structure sound, bankable regional projects that support joint initiatives and programs to reduce GHG emissions; (ii) Promote regional cooperation and integration and meet ADB’s RCI criteria (RCI scorecard); (iii) Aid in meeting climate mitigation and adaptation commitments, sustainability, and prioritization; (iv) Investment projects must align with ADB’s investment plan and be part of CAREC member countries’ investment projects or sector strategies, ensuring regional and national development priorities are met.
Eligible recipients of support from the CSPPF will be the following developing member countries (DMCs) that are members of the CAREC Program, namely: Azerbaijan, the People’s Republic of China, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.