The Asian Development Bank has announced a $70 billion initiative to strengthen energy and digital connectivity across Asia and the Pacific by 2035, aiming to link power grids, expand cross-border electricity trade, and improve broadband access.
ADB President Masato Kanda said energy and digital access will shape the region’s future, adding that integrated networks can lower costs and expand opportunities.
A key component, the Pan-Asia Power Grid Initiative, will mobilize $50 billion to connect national and subregional grids. It will focus on transmission lines, substations, storage, and grid digitalisation to enable cross-border renewable energy flows.
ADB expects the initiative to integrate about 20 gigawatts of renewable energy, build 22,000 circuit-kilometres of transmission lines, improve energy access for 200 million people, create 840,000 jobs, and cut power sector emissions by 15%.
The bank plans to finance about half of the programme, with the rest coming from cofinancing, including private investment, alongside technical support to align regulations and prepare projects.
ADB is also launching the Asia-Pacific Digital Highway, a $20 billion programme to expand digital infrastructure and support AI-driven growth through fibre networks, satellite links, and data centres.
By 2035, the initiative aims to provide first-time broadband access to 200 million people and improve connectivity for another 450 million, while reducing costs in remote areas by about 40% and creating around 4 million jobs.
ADB will contribute $15 billion to the digital programme, with the remainder mobilised through cofinancing. A Centre for AI Innovation and Development will be set up in Seoul with support from South Korea to promote inclusive AI adoption and train millions in digital skills.