MILAN, Italy, May 5. The Asian Development Bank (ADB) is ready to commit up to $10B to make the ASEAN Power Grid vision a reality, said ADB President Masato Kanda, addressing the opening ceremony of the Board of Governors in Milan today, Trend correspondent reports.
“We are working at the frontiers of the energy revolution through initiatives like the ASEAN Power Grid, which will modernize and interconnect energy systems across fast-growing Southeast Asian economies. ADB stands ready to commit up to $10 billion to make the ASEAN Power Grid vision a reality,” he said.
Kanda noted that ADB is deepening its investments to build greater resilience by strengthening infrastructure, restoring and protecting ecosystems, and helping vulnerable communities adapt to a world of intensifying climate and environmental risks.
“We are investing deeply in digitalization. Access to reliable, affordable, and secure digital services is a foundation for opportunity. ADB’s support for digital technologies is helping millions access formal financial services, modernizing payment platforms, and introducing national digital IDs in the Pacific and beyond to reduce costs, improve transparency, and strengthen trust,” he said.