ADB Pledges $70b for Energy, Digital Projects by 2035

The Asian Development Bank has announced plans to support $70 billion in energy and digital infrastructure projects across Asia and the Pacific by 2035, aiming to strengthen regional connectivity and support long-term growth.

The funding will back two major initiatives: the Pan-Asia Power Grid and the Asia-Pacific Digital Highway. Together, they are designed to improve cross-border electricity trade, expand renewable energy use, and boost digital connectivity across the region.

Under the power grid initiative, ADB plans to mobilise $50 billion by 2035 to connect national and subregional electricity systems. The effort will focus on transmission lines, substations, energy storage and grid modernisation, along with projects that support renewable energy exports and regional energy hubs.

The initiative targets the integration of around 20 gigawatts of renewable energy across borders, the development of 22,000 kilometres of transmission lines, and improved energy access for 200 million people. It also aims to cut power sector emissions by 15 percent and generate around 840,000 jobs.

ADB expects to provide about half of the funding from its own resources, with the rest coming from co-financing, including private sector participation. Additional technical support will be used to align regulations, set common standards and prepare large-scale projects.

The digital highway initiative will mobilise another $20 billion by 2035 to expand broadband access, build data infrastructure and support AI-ready economies. Investments will include fibre-optic networks, satellite connectivity and regional data centres.

The programme aims to bring first-time internet access to 200 million people and improve connectivity for another 450 million, while reducing costs in remote areas by about 40 percent and creating up to 4 million jobs.

As part of the plan, a Centre for AI Innovation and Development will be set up in Seoul with support from the South Korean government to promote responsible AI use and train millions in digital skills.

ADB President Masato Kanda said energy and digital access will play a central role in shaping the region’s future, adding that stronger cross-border networks can lower costs and expand opportunities for millions.