The Asian Development Bank (ADB) has announced a major investment plan to usher in a new era of integrated power and digital infrastructure across Asia and the Pacific region. The initiative aims to connect regional electricity grids and digital networks, with a total investment of 70 billion dollars by 2035, strengthening economic and technological capacity across participating countries. The announcement was made at ADB’s annual meeting in Samarkand, where ADB President Masato Kanda stated that power and digital connectivity will be the key drivers of future development. He emphasized that linking countries together would reduce electricity costs, expand opportunities, and improve the lives of millions. As part of the plan, the Pan-Asia Power Grid initiative will integrate regional electricity systems into a unified network, requiring around 50 billion dollars in investment, enabling easier cross-border exchange of renewable energy such as solar and wind power. The project also includes upgrading transmission lines, substations, energy storage systems, and grid digitalization, with an expected capacity to transmit about 20 gigawatts of renewable electricity across borders. It is projected to build around 22,000 circuit-kilometers of transmission lines, improve electricity access for 200 million people, create about 840,000 jobs, and reduce carbon emissions in the power sector by around 15 percent. Meanwhile, the Asia-Pacific Digital Highway initiative will invest 20 billion dollars to develop fiber-optic networks, submarine cables, satellite links, and data centers to strengthen digital connectivity across the region. If implemented, about 200 million people will gain internet access for the first time, while another 450 million people will benefit from faster and more affordable connectivity, potentially reducing internet costs by up to 40 percent in remote areas and creating around 4 million new jobs. To support this digital transformation, an AI Innovation and Training Center will be established in Seoul with support from South Korea, aiming to train around 3 million people in digital and artificial intelligence skills by 2035.
ADB announces $70 billion plan in two sectors
