(UrduPoint / Pakistan Point News / WAM – 08 April 2026) Manilaviii April2026 (WAM) — Asian Development Bank (Asian Development Bank) launched a multi-partner fund to finance critical project preparation for cross-border energy and transport infrastructure within ASEAN Asian Nations (ASEAN) – the first fund of its kind in the region. Southeast Regional Energy Connection Fund Asia The RCF will promote the development of the ASEAN Power Grid, the regional bloc’s flagship initiative to achieve full integration. electricity Network operations by 2045.
“The ASEAN Power Grid is one of Southeast Asia AsiaThe greatest opportunities in the country, with the potential to provide energy security for about 700 people million people and stimulate growth in the region.” Asian Development Bank President Masato Kanda. “Thanks to the strong support of our partners, today’s launch of the Project Preparation Fund is a critical step towards accelerating high-quality ASEAN power grid investments and turning regional ambition into action.”
The Regional Cooperation Framework is a key initiative delivered under the ASEAN Infrastructure Fund (AIF) – South East AsiaThe largest regionally owned infrastructure financing platform – and will help the Asian Investment Fund expand its reach and impact. Initial funding equates to about $25 million It consists of contributions from the the government to Australiathe the government to Canadathe European Unionthe the government to Germanyand the government Subordinate UK.
managed by Asian Development Bank In close cooperation with AIF blackboard And to ASEAN member states, the RCF will accelerate project preparation by providing technical assistance and project readiness financing grants to support energy infrastructure projects. This includes feasibility studies, engineering design, financial structuring and collateral evaluations. Activities related to policy advice, regulatory improvements, capacity building and knowledge sharing to improve the enabling environment for the ASEAN power grid will also be funded. The RCF will ensure that projects are well-designed, bankable, and aligned with the priorities of ASEAN members.
Southeast AsiaAsia’s energy demand is expected to triple by 2050. The ASEAN Power Grid will help open access to reliable and affordable energy supplies, including renewable energy sources such as solar, wind and hydropower.
The Asian Development Bank has pledged up to $10 one billion Over the next ten years towards the ASEAN Power Grid and related investments to accelerate cross-border energy connections, national grid projects, and renewable energy initiatives that will facilitate energy trade. in October, Asian Development Bank Launched the ASEAN Energy Grid Financing Initiative with the ASEAN Secretariat, the ASEAN Energy Center and the ASEAN Energy Organization World Bank.