The Asian Development Bank has announced a plan to mobilize $50 billion by 2035 to help countries in Asia and the Pacific build cross-border power grids. The funding will come through new financial tools, policy support, and partnerships aimed at lowering energy costs, improving reliability, and increasing the trade of clean energy across some of the region’s most challenging geographic and political areas.
ADB President Masato Kanda outlined the initiative during the Governors’ Seminar at ADB’s 59th Annual Meeting.Kanda said the Pan-Asia Power Grid Initiative is intended to strengthen regional connectivity and create the infrastructure needed for a more resilient and competitive future. He emphasized that countries with strong cross-border links are better positioned to attract investment and withstand economic shocks, making regional energy cooperation an essential strategy for long-term stability.
The Pan-Asia Power Grid Initiative, launched earlier in the week, is ADB’s flagship regional platform for advancing large-scale cross-border electricity trade. It aims to support the integration of renewable energy resources, expand the transmission network, and make electricity more reliable and affordable across Asia and the Pacific.
By 2035, the initiative seeks to integrate around 20 gigawatts of renewable energy, develop 22,000 circuit-kilometers of transmission lines, improve access to electricity for 200 million people, and generate approximately 840,000 jobs.ADB is working with governments, regulators, utilities, the private sector, and development partners to align energy policies, plan investments in the right sequence, and address regulatory and technical challenges that typically slow down regional power infrastructure.
The bank has already supported several complex cross-border energy projects, such as the Bangladesh–India grid interconnection and the Monsoon Wind Power Project in the Lao People’s Democratic Republic, using blended finance to attract private investment. To further accelerate regional power connectivity, ADB has created the Regional Connectivity Fund, backed by Australia, Canada, Germany, the United Kingdom, and the European Union.
The fund is designed to reduce risks for early-stage projects, support project preparation, and help bring in larger amounts of public and private financing. ADB remains a major multilateral development bank focused on sustainable and inclusive growth across Asia and the Pacific. It works closely with its members and partners to address complex development challenges, invest in high-quality infrastructure, and support climate-resilient growth. Established in 1966, ADB is owned by 69 members, including 50 from within the region.
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