The Asian Development Bank (ADB) has announced a $70 billion commitment to accelerate new energy and digital infrastructure across Asia and the Pacific by 2035, outlining two large-scale initiatives that aim to modernize regional power systems, expand cross-border electricity trade, and close the digital connectivity gap for hundreds of millions of people.ADB President Masato Kanda said the initiatives reflect the region’s most urgent priorities, noting that reliable energy and digital access will be central to growth, competitiveness, and long-term stability.

He emphasized that linking power grids and digital networks across borders can reduce energy costs, boost economic opportunity, and extend essential services to communities that remain underserved.The first programme, the Pan-Asia Power Grid Initiative, will mobilize $50 billion over the next decade to build and integrate regional power networks capable of transmitting renewable energy across borders. Working with governments, utilities, private investors, and development partners, the initiative is designed to unlock renewable power at scale through investments in transmission lines, grid interconnections, substations, storage systems, and advanced grid digitalization.

It will also support new generation facilities tied to regional electricity trade, including renewable energy export zones, hybrid power-and-storage projects, and large-scale hubs capable of supplying multiple countries.By 2035, ADB aims to enable the cross-border integration of roughly 20 gigawatts of renewable energy, construct or modernize 22,000 circuit-kilometers of transmission infrastructure, and expand access to reliable electricity for about 200 million people.

According to ADB estimates, the initiative could generate more than 800,000 jobs and reduce the region’s power-sector emissions by around 15 percent. The Bank expects to provide half of the programme’s financing from its own resources, with the remainder raised through cofinancing arrangements, including private-sector participation. A further $10 million in technical assistance will support regulatory harmonization, common technical standards, feasibility studies, and broader project preparation.

The Pan-Asia Power Grid Initiative represents a transition from bilateral energy links to a coordinated regional approach, drawing on the progress made through several existing cooperation mechanisms, such as the South Asia Subregional Economic Cooperation framework, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’s grid planning efforts, the ASEAN Power Grid, and the Central Asia Regional Economic Cooperation Energy Strategy 2030.

Parallel to the energy programme, the Asia-Pacific Digital Highway will mobilize $20 billion to expand the region’s digital infrastructure and prepare economies for an era of AI-enabled growth. Investments will include terrestrial and subsea fiber-optic networks, satellite connectivity, and regional data centers, along with policy support for cybersecurity, digital governance, and technical standards.

Additional funding will target workforce programmes to strengthen digital and AI readiness.By 2035, the initiative aims to deliver first-time broadband access to 200 million people, enhance connectivity for 450 million more, reduce digital access costs in remote and landlocked areas by about 40 percent, and support the creation of an estimated 4 million jobs. ADB plans to finance $15 billion of the initiative directly, raising the remaining $5 billion through cofinancing partners.

To reinforce the programme, a new Center for AI Innovation and Development will be established in Seoul, supported by a $20 million contribution from the Government of the Republic of Korea. The center is expected to help train around 3 million people in digital and AI-related skills over the next decade.ADB said the two initiatives reflect its broader commitment to expanding sustainable, inclusive, and resilient growth across Asia and the Pacific. Founded in 1966 and owned by 69 members, the Bank continues to leverage partnerships, innovative financing tools, and regional cooperation to address complex development challenges and strengthen long-term economic foundations throughout the region.