DILI, 09 May 2026 (TATOLI) — The Asian Development Bank (ADB), on Friday 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. Mr. 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 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.”
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.
Speaking directly to the ASEAN Leaders, Kanda addressed the immediate global economic disruptions linked to the conflict in the Middle East, outlining ADB’s readiness to help the region respond to spillovers impacting supply chains. 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.
Earlier, on 7 May, Kanda attended the Special BIMP-EAGA Summit. He reaffirmed ADB’s commitment to the subregion’s Vision 2035 by supporting economic corridors, advancing the ASEAN Power Grid, and investing in food security and marine ecosystem protection to safeguard livelihoods.
On the sidelines of the summits, Kanda held several bilateral meetings to strengthen ADB’s partnerships with key leaders and institutions. These included engagements with the Sultan of Brunei Hassanal Bolkiah, Cambodia’s Prime Minister Hun Manet, Indonesia’s President Prabowo Subianto, Lao People’s Democratic Republic’s Prime Minister Sonexay Siphandone, Malaysia’s Prime Minister Anwar Ibrahim, Philippines’ President Ferdinand Marcos Jr., Singapore’s Prime Minister Lawrence Wong, Thailand’s Prime Minister Anutin Charnvirakul, Timor-Leste’s Prime Minister Xanana Gusmão, Viet Nam’s Prime Minister Le Minh Hung, and Kao.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
TATOLI
Source: ADB
