The Asian Development Bank (ADB) and the World Bank (WB) have committed more than USD12 billion to accelerate the ASEAN Power Grid (APG) and renewable energy initiatives.
The APG, a flagship under the ASEAN Plan of Action for Energy Cooperation 2026–2030, seeks to interconnect regional grids to strengthen energy security, diversify sources, optimise resource use, and promote cross-border electricity trade. ADB pledged up to USD10 billion over the next decade for interconnections, grid upgrades, and renewable-linked exports, while the WB will channel USD2.5 billion through its Accelerating Sustainable Energy Transition Multi-Phase Programmatic Approach (ASET-MPA).
Ministers and central bank governors discussed financing mechanisms, inter-sectoral coordination, and strategies to attract global capital. The meeting closed with a joint statement affirming the APG’s importance for regional competitiveness, sustainable growth, and long-term energy security.
