COVID-19 and Economic Recovery Potential in the CAREC Region

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Asian Development Bank Institute (ADBI), CAREC Institute

This case study explores ways to unlock sustainable and inclusive growth opportunities in the Central Asia Regional Economic Cooperation (CAREC) region by analyzing innovations in digital transformation, e-taxation, financial technology promotion, debt sustainability and the impact on small businesses and households.

The insights provide a springboard for crisis response efforts across CAREC countries aimed at accelerating economic recovery.

The CAREC region, which extends from Azerbaijan to the People's Republic of China, is an increasingly important channel for international trade and energy resources, but COVID-19 pandemic and subsequent economic crisis have introduced unprecedented challenges for the countries involved. The road to recovery may be even more daunting, but some economic trends suggest that there is potential for the recovery process to positively influence CAREC countries' socioeconomic development in the coming years.

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Regions :
Asia
Themes :
Key search term :
green recovery
socioeconomic development

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