ADB Unveils USD 70 Billion Power Grid and Digital Plan
Why in the news
The Asian Development Bank announced a USD 70 billion commitment through 2035 on 3 May 2026. The announcement was made at the bank’s 59th Annual Meeting in Samarkand, Uzbekistan.
Key facts
| Initiative | Funding by 2035 | Focus |
|---|---|---|
| Pan-Asia Power Grid Initiative | USD 50 billion | Cross-border transmission, substations, storage, grid digitalisation |
| Asia-Pacific Digital Highway | USD 20 billion | Digital corridors, data infrastructure, AI-ready economies |
- ADB President: Masato Kanda.
- The power grid aims to link national systems so renewable energy can flow across borders.
- Rigzone reports targets such as 20 GW of renewable energy integrated and 200 million people with better energy access by 2035.
About ADB
The Asian Development Bank was founded in 1966, is based in the Philippines and has 69 members, of which 50 are from the Asia-Pacific region.
Exam angle
- Remember USD 70 billion = 50 + 20.
- Venue of the 59th Annual Meeting: Samarkand, Uzbekistan.
- ADB head: Masato Kanda.