ADB launches USD 70 billion initiative — Pan‑Asia power grid & digital highway (to 2035)

What: Asian Development Bank launched USD 70 billion programme (USD 50bn Pan‑Asia Power Grid; USD 20bn Asia‑Pacific Digital Highway) to expand power trade, broadband and resilience; includes AI Innovation Centre in Seoul (USD 20m KORea contribution).

Funding: ADB to fund at least half; rest via co‑finance and private sector.

Significance:

• Regional integration: Facilitates cross‑border power trade, connectivity and digital infrastructure — important for energy transition and economic integration.

• Finance mobilisation: Blends development finance with private capital for large‑scale infrastructure.

UPSC relevance: Regional infrastructure, development finance, energy geopolitics.

Practice Q: What are the policy and geopolitical implications of a Pan‑Asia power grid?