CAREC Institute Successfully Hosts 9th CAREC Think Tank Development Forum in Urumqi
The 9th CAREC Think Tank Development Forum was hosted by the CAREC Institute (CI), in collaboration with the Asian Development Bank (ADB), the Eurasian Fund for Stabilization and Development, and the ADB–PRC Regional Knowledge Sharing Initiative, on 1 December 2025 in Urumqi, Xinjiang, People’s Republic of China. The Forum, themed “Accelerating Transformative Effect of Green Initiatives through Innovative Financing Mechanisms in the CAREC Region,” brought together over 150 participants from government, international organizations, the private sector, think tanks, and academia.
As the world focuses increasingly on green transitions and sustainable development, this Forum served as a vital platform for dialogue among regional and international stakeholders. Since its establishment, the CAREC Think Tank Network (CTTN) has been instrumental in fostering cooperation and sharing innovative solutions to pressing regional challenges, including those related to green finance.
The opening session featured remarks from key partners. CAREC Institute Director Charymuhammet Shallyyev emphasized the urgency of addressing substantial financing gaps as countries pursue ambitious green transition goals. “Across the region, governments are adopting ambitious green transition commitments, but financing gaps remain substantial. This Forum provides a timely platform to discuss practical solutions,” he noted.
Mr. Mukiyat Jarmuhammat, Deputy Governor of the People’s Government of Xinjiang Uyghur Autonomous Region and Mr. Yang Yingming, the Vice President of the Asian Development Bank also offered opening remarks. In his keynote speech, Dr. Wang Xin, Director-General of the Research Bureau at the People’s Bank of China, shared insights on China’s experience in developing sustainable finance.
The Forum featured four expert panel sessions covering key aspects of the green transition, including innovative financing models, green banking, sustainable lending practices, and climate finance. Experts from international organizations, such as UN agencies, multilateral development banks, as well as representatives of the banking sector and research institutes, actively contributed to the discussions. They shared diverse insights on how financial institutions can mobilize capital for sustainable development and highlighted the critical role of international donors in supporting climate finance. The concluding session was dedicated to discussions on CTTN’s way forward, where member institutions shared their views on various aspects of cooperation within the network.
At the forum, CTTN members presented their latest research, providing region-driven, policy-relevant insights on green finance, sustainable infrastructure, and climate resilience. These discussions not only focused on the latest trends in green financing but also explored practical ways to close the financing gaps that hinder the region’s green transition.
The Forum concluded with a briefing on CTTN’s achievements over the past year, followed by a forward-looking discussion on its future development and priorities. Director Shallyyev highlighted the Forum’s key takeaways, noting that mobilizing sustainable finance at scale remains the cornerstone of any meaningful green transition, whether through blended finance, ESG-aligned banking reforms, or innovative financing vehicles. He also underscored the importance of effective regional cooperation underpinned by shared frameworks, harmonized standards, and knowledge exchange, as well as the growing role of robust evidence, data, and research in shaping informed policy decisions and unlocking cross-border solutions.
Since its establishment in 2017, the CAREC Think Tank Network has convened annually, with this being its third gathering in Urumqi. The CAREC Think Tank Development Forum continues to provide a key platform for dialogue on regional and global challenges, reaffirming the CAREC Institute’s commitment to advancing prosperity and sustainable development across the region.