ADB to mobilize $70 billion to connect Asia-Pacific power grids, digital highways

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May 5, 2026 | 12:00am

SAMARKAND, Uzbekistan – The Asian Development Bank (ADB) aims to mobilize $70 billion to support initiatives aimed at improving energy and digital access across Asia-Pacific by 2035.

While the multilateral lender is helping member countries manage the severe impact of the Middle East conflict that has led to higher fuel, freight, food and fertilizer costs, ADB president Masato Kanda said in a press conference that there is a need to look beyond crisis management and push for initiatives that will support the region’s future growth.

He said the ADB would be working with governments, the private sector and development partners to build energy grids and digital highways, which are expected to power the region’s future.

“To achieve this, we aim to mobilize $70 billion by 2035,” he said.

Of this amount, $50 billion will go to the Pan-Asia Power Grid, while $20 billion will be for the Asia-Pacific Digital Highway.

ADB expects to finance about half of the $50 billion initiative from its own resources, while the rest will be raised through co-financing, including from the private sector.

The Pan-Asia Power Grid is expected to help countries by connecting power systems to enable renewable energy to flow across borders.

Under this initiative, the aim is to integrate about 20 gigawatts of renewable energy across borders and connect 22,000 circuit-kilometers of transmission lines.

“This will improve energy access for about 200 million people and reduce regional power sector emissions by about 15 percent. It will also help create 840,000 jobs,” Kanda said.

The initiative is of growing importance as demand for reliable and affordable electricity is rising faster than what systems can deliver in the region.

Meanwhile, support for the Asia-Pacific Digital Highway will involve building fiber networks, submarine cables, internet exchange points and regional data centers.

The initiative will also involve support for digital corridors and economies so they can harness the benefits of artificial intelligence (AI).

To support the initiative, the Center for AI Innovation and Development will be established in Seoul, South Korea.

Apart from investments in infrastructure, ADB will also provide policy and regulatory support, including cybersecurity risk management, as well as invest in digital and AI skills training of three million people, with a focus on youth and women.

While the ADB is concerned about the risks of AI in terms of cybersecurity and job growth, Kanda said the technology can open opportunities for all, including the most vulnerable and those in remote areas.

As such, he said ADB is promoting responsible AI adoption.

The ADB also supports the use of the technology to provide equal and enhanced opportunity for all.

“This is really a fantastic chance for us to create a more fair, just world,” Kanda said.