The Asian Development Bank (ADB) has announced two big projects worth a total of $70 billion to improve electricity and internet access across Asia and the Pacific.
The first project, called the Pan-Asia Power Grid Initiative, aims to connect power systems of different countries. This will allow renewable energy, like solar and wind power, to be shared across borders. The second project, the Asia-Pacific Digital Highway, focuses on improving internet and digital infrastructure so countries in the region can benefit from technologies like AI.
Most of the investment will go into the power grid project. ADB plans to raise $50 billion by 2035 for building cross-border electricity networks. This includes transmission lines, substations, energy storage, and modern digital systems for managing power. It will also support renewable energy projects and shared energy hubs between countries.
Through this initiative, ADB aims to connect about 20 gigawatts of renewable energy, build 22,000 km of transmission lines, provide better electricity access to 200 million people, create around 840,000 jobs, and reduce pollution from the power sector by 15% by 2035.
ADB will fund about half of the $50 billion itself and raise the rest from private investors and partners. It will also provide technical support to help countries align their policies, follow common standards, and prepare for large projects.
This project will build on existing regional partnerships in South Asia, Southeast Asia, and Central Asia to improve energy cooperation and connectivity.
The ADB’s Asia-Pacific Digital Highway Initiative plans to invest $20 billion by 2035 to improve internet and digital systems across the region.
The focus will be on building better digital infrastructure, such as fibre optic networks on land and under the sea, satellite connections, and regional data centres. ADB will also help countries improve rules and policies, including cybersecurity, and support training programs so people can develop digital and AI skills.
By 2035, this project aims to give broadband internet access to 200 million people for the first time and improve internet speed and reliability for another 450 million people. It is also expected to reduce internet costs in remote and landlocked areas by around 40% and create about 4 million jobs.
ADB plans to invest $15 billion from its own funds and raise the remaining $5 billion with help from private companies and other partners.
“Energy and digital access will define the region’s future,” said ADB president Masato Kanda in a statement. “These two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people.”
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