The Asian Development Bank (ADB) announced the launch of two initiatives in energy and digital infrastructure totaling $70 billion by 2035. ADB President Masato Kanda made the announcement on May 3 at the bank's annual meeting in Samarkand.

The first initiative, the Pan-Asia Power Grid Initiative, worth $50 billion, aims to create a pan-Asian energy system by integrating national and subregional power grids. Funds will be allocated to transmission lines, substations, energy storage systems, grid digitalization, and expanding the use of renewable energy sources (RES).

By 2035, ADB expects to enable cross-border integration of 20 GW of renewable energy, interconnect 22,000 km of transmission lines, improve electricity access for 200 million people, create 840,000 jobs, and reduce emissions in the region's energy sector by 15%.

The second initiative, the Asia-Pacific Digital Highway, involves mobilizing $20 billion by 2035 to develop digital corridors, data infrastructure, and AI-ready economies. Investments will target terrestrial and submarine fiber-optic networks, satellite communication channels, and regional data centers.

By 2035, the digital initiative is expected to provide primary broadband access for 200 million people and faster, more reliable digital connectivity for another 450 million residents. Connection costs in remote and landlocked areas could drop by 40%, and about 4 million jobs are projected to be created.

ADB plans to finance a significant portion of these initiatives from its own resources, with the remainder raised through co-financing, including private sector participation. Up to $10 million will be allocated for technical assistance.

Source: www.gazeta.uz