ADB President Masato Kanda unveiled the commitment during the 48th ASEAN Summit in Cebu on May 8, 2026, where regional leaders welcomed the multilateral lender’s continued support for the bloc’s economic and development agenda.
Kanda attended the summit as guest of the chair under Philippine President Ferdinand R. Marcos Jr.
Regional support
“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,” Kanda said.
“As the region’s main bank, ADB is channeling 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,” he added.
The financing package will support five flagship regional initiatives aimed at building long-term resilience and improving regional connectivity.
ADB said $6 billion will be allocated to deepen ASEAN capital markets, while $5 billion will help accelerate the ASEAN Power Grid initiative.
The amount forms part of ADB’s previously announced support of up to $10 billion for the regional power network through 2035.
Key priorities
The investment pipeline will also fund programs to improve artificial intelligence readiness, expand the blue economy, and strengthen river resilience projects across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn described the initiative as a major boost for the region.
“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,” Kao said.
“We look forward to working closely with ADB, as our trusted partner, to translate this commitment into tangible outcomes,” he added.
Economic pressures
During the summit, Kanda also addressed economic disruptions linked to the conflict in the Middle East, warning of spillover risks to regional supply chains and fiscal stability.
ADB said it is prepared to provide fast-disbursing budget support to economies under pressure and has temporarily reactivated private sector support for oil imports through its Trade and Supply Chain Finance Program.
Earlier this week, Kanda also attended the Special BIMP-EAGA Summit, where he reaffirmed ADB’s support for subregional economic corridors, food security initiatives, and marine ecosystem protection programs. —Ed: Corrie S. Narisma
