Asian Development Bank (ADB) to invest $70 Billion in Asia-Pacific infrastructure by 2035

Key facts

• The Asian Development Bank (ADB) will support $70 billion in new energy and digital infrastructure projects across the Asia-Pacific region by 2035.
• Under the Pan-Asia Power Grid Initiative, ADB aims to mobilise $50 billion for cross-border power infrastructure, including 22,000 circuit-kilometers of transmission lines.
• The power initiative targets the integration of 20 gigawatts of renewable energy and aims to reduce regional power sector emissions by 15% by 2035.
• The Asia-Pacific Digital Highway will mobilise $20 billion to finance digital corridors, subsea fibre networks, and satellite links to provide broadband access to 200 million people.
• ADB President Masato Kanda advised countries like India to strengthen domestic economies and build reserves to ensure resilience against global order stress tests.