(UrduPoint / Pakistan Point News / WAM – 09th May, 2026) CEBU, PHILIPPINES, 9th May, 2026 (WAM) — The Asian Development Bank (ADB) today announced it will mobilize $30 billion by 2030 to help the Association of Southeast Asian Nations (ASEAN) advance long-term development priorities and withstand external shocks.
ADB President Masato Kanda announced the commitment during his attendance at the 48th ASEAN Summit in Cebu, where its leaders welcomed ADB’s longstanding partnership with the bloc and its role as the region’s main bank. Kanda attended the summit, chaired by Philippine President Ferdinand R. Marcos Jr., as Guest of the Chair.
“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,” said Mr. Kanda. “As the region’s main bank, ADB is chaneling 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.
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To build long-term resilience, ADB’s $30 billion commitment will target five regional flagship initiatives. The financial package includes $6 billion to deepen capital markets and $5 billion to accelerate the ASEAN Power Grid, which is part of ADB’s previously announced support of up to $10 billion for the grid through 2035. It also mobilizes investments for advancing artificial intelligence readiness, championing the blue economy, and strengthening rivers’ resilience.
“ASEAN welcomes ADB’s enhanced commitment to our region and its people. This landmark partnership, and ADB’s pledge to mobilize $30 billion by 2030, sends a powerful signal of confidence in ASEAN’s vision and its capacity to deliver. We look forward to working closely with ADB, as our trusted partner, to translate this commitment into tangible outcomes. Together, we can accelerate progress on our shared priorities; from energy connectivity and climate resilience to inclusive growth for all our peoples,” said ASEAN Secretary-General Kao Kim Hourn.
