US EditionADB Launches $70 Billion Plan for Energy, Digital Infrastructure in Asia-Pacific
The plan includes $50 billion for a Pan-Asia Power Grid and $20 billion for digital projects to expand access and cut costs by 2035.
- On Sunday, May 3, the Asian Development Bank announced a $70 billion initiative to expand energy and digital infrastructure across the Asia-Pacific region by 2035. ADB President Masato Kanda unveiled the plan at the bank's annual meeting in Samarkand.
- The initiative allocates $50 billion for the Pan-Asia Power Grid Initiative to connect regional power systems and enable renewable energy flow across borders, with $20 billion directed to the Asia-Pacific Digital Highway.
- By 2035, the program targets providing broadband access to 200 million people and improving connectivity for another 450 million while creating up to 4 million jobs and cutting regional power sector emissions by 15 per cent.
- ADB expects to finance $15 billion of the digital initiative from its own resources and raise $5 billion through co-financing. The Korean government will back a Centre for AI Innovation and Development in Seoul with a $20 million contribution.
- "Energy and digital access will define the region's future," Kanda said. By linking power grids and digital networks across borders, the initiatives aim to lower costs and provide reliable connectivity to hundreds of millions of people.
16 Articles
16 Articles
ADB announces $70bn initiative to boost cross-border electricity trade, increase broadband access in Asia-Pacific
ISLAMABAD: The Asian Development Bank (ADB) announced on Sunday a $70 billion initiative on Sunday to expand energy and digital infrastructure across the Asia-Pacific region by 2035, aiming to strengthen power grid links, boost cross-border electricity trade and increase broadband access. The plan includes $50bn for a new Pan‑Asia Power Grid Initiative and $20bn for the Asia-Pacific Digital Highway project. At the inaugural session of its May …
ADB launches $70B push to connect Asia’s power grids, digital networks
The Asian Development Bank (ADB) will back $70 billion in new energy and digital infrastructure initiatives by 2035, aiming to connect power grids, expand cross-border electricity trade, and improve broadband access across Asia and the Pacific. ADB said in a statement on last Sunday that the Pan-Asia Power Grid Initiative will connect national and subregional power systems so renewable energy can flow across borders, while the Asia-Pacific Digit…
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