The Asian Development Bank (ADB) has announced an ambitious $70 billion investment plan aimed at transforming energy and digital connectivity across Asia and the Pacific by 2035. The announcement was made during the bank’s annual meeting held in Samarkand, Uzbekistan, where officials highlighted the growing need for stronger regional cooperation to support economic growth, clean energy transition, and digital inclusion.
The investment strategy includes two major programs designed to improve power infrastructure and internet access across the region. The first initiative, known as the Pan-Asia Power Grid Initiative, will receive $50 billion in funding to strengthen and connect national electricity grids. The project will help countries trade electricity across borders more efficiently, with a strong focus on renewable energy integration.
According to the ADB, the interconnected grid system is expected to integrate around 20 gigawatts of clean energy into regional networks. This move could reduce power sector emissions in the region by nearly 15%, supporting climate goals and reducing dependence on fossil fuels. The initiative also plans to build around 22,000 kilometers of transmission lines, improving electricity access and reliability for nearly 200 million people.
In addition to environmental benefits, the power grid project is expected to create more than 800,000 jobs across various sectors, including construction, engineering, manufacturing, and maintenance. The ADB believes the stronger regional energy network will help countries better manage electricity demand, lower energy costs, and improve energy security.
The second major initiative is the Asia-Pacific Digital Highway, which has been allocated $20 billion. This project focuses on expanding digital infrastructure through fiber optic networks, satellite communication systems, and new data centers. The goal is to provide first-time broadband access to around 200 million people while improving internet connectivity for another 450 million people in the region.
The digital project also aims to prepare economies for the increasing use of artificial intelligence (AI) and digital technologies. As part of this effort, the ADB plans to establish a new Center for AI Innovation and Development in Seoul, South Korea. The center is expected to provide digital skills training to nearly 3 million people, helping workers and businesses adapt to the changing technological landscape.
ADB President Masato Kanda said that energy and digital connectivity are essential for the future growth of Asia and the Pacific. He stressed that better regional integration would help reduce costs, strengthen resilience, and ensure that remote and landlocked communities are not left behind.
The ADB expects to finance most of the projects through its own resources while attracting additional investment from private sector partners. Through these initiatives, the bank aims to promote a more connected, sustainable, and economically resilient Asia by 2035.
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