ADB Mobilises US$ 50 Bn for Pan-Asia Power Grid Initiative (PAGI) 📈

The Asian Development Bank (ADB) has launched a flagship regional platform to transform energy connectivity across Asia and the Pacific by 2035. • Overall Financing: ADB aims to mobilise US$ 50 Bn through new financing tools, policy support, and partnerships to build cross-border power grids. • Key Targets by 2035: • Integration of 20 GW of renewable energy. • Connection of 22,000 circuit-kilometres of transmission lines. • Improved energy access for 200 million people. • Creation of 840,000 jobs across the region. • Economic Impact: The initiative focuses on lowering energy costs, strengthening reliability, and expanding clean energy trade. President Masato Kanda noted that connectivity is essential to attract investment and withstand economic shocks. • Strategic Focus: The ADB will address regulatory barriers and leverage "blended finance" to crowd in private capital. This follows successful models like the Bangladesh–India grid interconnection. • Support Mechanism: A dedicated Regional Connectivity Fund (supported by Australia, Canada, Germany, UK, and EU) will de-risk early-stage projects to accelerate infrastructure development. This initiative underscores a shift toward integrated regional systems, positioning energy security and infrastructure as primary drivers for regional prosperity.