ADB Prepares $70 Billion in Funding for Digital Power Grid Network in Asia

Samarkand (ANTARA) - The Asian Development Bank (ADB) stated on Sunday (3/5) that it will allocate funding of up to $70 billion US (1 US dollar = Rp17,378) by 2035 to integrate power grids, expand cross-border electricity trade, and strengthen broadband access across the Asia-Pacific region.

ADB President Masato Kanda launched the Pan-Asia Power Grid Initiative and the Asia-Pacific Digital Highway at the 59th annual meeting of the bank in Samarkand, Uzbekistan’s second-largest city.

“Access to energy and digital services will determine the future of this region,” said Kanda, adding that by “connecting power and digital networks across borders, we can reduce costs, expand opportunities, and deliver reliable electricity supply and digital access to hundreds of millions of people.”

According to Kanda, the Pan-Asia Power Grid Initiative aims to connect national and subregional power systems to enable cross-border flows of renewable energy.

The Asia-Pacific Digital Highway aims to close the digital infrastructure gap and help the region capitalise on AI-driven growth.

Under the Pan-Asia Power Grid Initiative, ADB plans to mobilise $50 billion by 2035 for cross-border power infrastructure, focusing on transmission lines, substations, energy storage, and grid digitalisation.

Under the Asia-Pacific Digital Highway initiative, ADB will mobilise $20 billion to finance digital corridors, data infrastructure, and an AI-ready economy.

The ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific.

Established in 1966, the ADB has 69 members, 50 of which are from the region.