ADB Commits USD 10 Billion for ASEAN Power Grid to Expedite Cross-border Connections
Asian Development Bank (ADB) President Masato Kanda announced a USD 10 billion commitment to accelerate the ASEAN Power Grid, emphasising the initiative’s role in enhancing regional energy security, connectivity, and economic resilience.
May 14, 2025. By Mrinmoy Dey
The initiative aims to connect the electricity networks of ASEAN’s 10 member countries by 2045, thereby enhancing energy security and access for the region’s 670 million people.
Additionally, ADB has programmed USD 27 billion in financing over the next 3 years to support ASEAN members’ development priorities, including boosting economic growth and competitiveness, enhancing human capital, and strengthening resilience.
During the meeting, Kanda affirmed ADB’s support for bolstering economic resilience amid escalating global trade tensions and stressed the importance of enhancing regional cooperation and connectivity, including through the ASEAN Power Grid.
He said, “Global trade tensions have clouded ASEAN’s growth prospects, and I am deeply concerned about the resulting economic shocks, especially for our poorest and most vulnerable communities. It is imperative that ASEAN countries work together to build long-term resilience, safeguard growth and investments, and protect against external shocks. ADB stands ready to support our developing member countries in overcoming these challenges.”
Despite economic headwinds, Kanda expressed optimism for the region, citing strong domestic demand across many ASEAN economies and the availability of policy tools to cushion adverse impacts. He emphasized that current challenges present an opportunity to accelerate reforms, implement sound economic policies, and strengthen regional cooperation and connectivity through open trade and investment, market diversification, and increased competitiveness.
Highlighting the region’s rapidly growing energy demand, which is projected to triple by 2050, the ADB President underscored the need for modern, interconnected energy systems. “ASEAN member states have rightly acknowledged the need to accelerate action on the ASEAN Power Grid. Its successful implementation will transform lives and industries across the region, and provide enormous opportunities for all our ASEAN member countries and their economies,” he said.
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