ADB commits $30B to shield SEA economies from shocks
ASIAN Development Bank president Masato Kanda announced during the 48TH ASEAN Summit that the bank will mobilize $30 billion by 2030 to help the Association of Southeast Asian Nations advance long-term development priorities and withstand external shocks.
PHOTOGRAPH courtesy of Asian Development Bank
The Asian Development Bank (ADB) will mobilize $30 billion by 2030 to help Southeast Asian economies strengthen resilience, deepen regional integration and withstand mounting geopolitical and economic shocks.
ADB president Masato Kanda announced the commitment during the 48th ASEAN Summit in Cebu, saying the funding pipeline would support both public and private sector investments aligned with the region’s long-term priorities.
Delivery is the challenge
“ASEAN has clear priorities and strong ambitions, but the challenge now is delivery, especially as the region faces a period of compounding crises, from geopolitical uncertainty to economic shocks,” Kanda said.
He added: “As the region’s main bank, ADB is channeling financing, expertise, and a $30-billion pipeline of public and private sector investments to directly support ASEAN’s priorities and deliver lasting benefits for people across the region.”
Capital market development, ASEAN Power Grid
The financing package will support five major regional initiatives, including $6 billion for capital market development and $5 billion for the ASEAN Power Grid, a long-delayed regional energy connectivity project aimed at improving electricity security and cross-border power trade.
The amount allocated for the ASEAN Power Grid forms part of ADB’s previously announced commitment of up to $10 billion through 2035 for regional energy interconnection projects.
ADB said the broader investment pipeline will also support artificial intelligence readiness, blue economy initiatives and river resilience projects, reflecting growing concerns over climate risks, supply chain disruptions and digital transformation across the region.
Support for pressured economies
The bank also signaled readiness to provide rapid financial support to economies facing pressure from the ongoing Middle East conflict and global market volatility.
“To stabilize economies under fiscal pressure, ADB is providing fast-disbursing budget support and has reactivated on a temporary basis private sector support for oil imports through its Trade and Supply Chain Finance Program,” Kanda said.
ASEAN Secretary-General Kao Kim Hourn welcomed the initiative, describing the commitment as “a powerful signal of confidence” in the region’s long-term growth prospects.