Overview
- ADB launched the programme on Sunday at its annual meeting in Samarkand, setting a 2035 goal to strengthen cross-border energy trade and expand broadband access across Asia-Pacific.
- The $50 billion Pan-Asia Power Grid Initiative targets about 20 gigawatts of renewables integration, 22,000 circuit-kilometres of transmission lines, and improved electricity access for 200 million people, with ADB financing roughly half.
- The $20 billion Asia-Pacific Digital Highway will fund fibre routes, subsea cables, satellite links, and regional data centres, aiming to bring first-time broadband to 200 million people and better connectivity for another 450 million, with ADB contributing about $15 billion.
- ADB also launched a critical minerals facility to build processing, manufacturing, and recycling capacity, with Japan pledging $20 million to a grant window, the UK $1.6 million, and Korea Eximbank and K-SURE signing $500 million memoranda each for catalytic finance.
- India urged hybrid and callable capital to ease lending caps, Pakistan warned current exposure limits could choke high-need financing, and ADB cut its 2026 outlook to 4.7% growth and 5.2% inflation while pledging swift support to help Pakistan secure essential imports.