International
11 May 2026 10:14 AM• 20 hours ago• Lim_Rothanaksambath
$30 Billion to be Mobilized by ADB to Support ASEAN Countries
1778494443 6a01abeb54c63 0
00:00/00:00
CEBU, PHILIPPINES (May 8, 2026) — The Asian Development Bank (ADB) has announced a landmark commitment to mobilize $30 billion by 2030 to assist ASEAN nations in achieving their long-term development goals and building resilience against global economic shocks. ADB President Masato Kanda shared the announcement during the 48th ASEAN Summit in Cebu, where regional leaders recognized the bank's vital role as a primary financial partner for the bloc.
The $30 billion funding pipeline is designed to address a variety of compounding crises, ranging from economic instability to geopolitical uncertainty. The investment strategy targets five major regional initiatives, including $6 billion to deepen capital markets and $5 billion to accelerate the development of the ASEAN Power Grid. Additionally, the funds will support the region’s readiness for artificial intelligence, the growth of the blue economy, and the strengthening of river systems against climate change.
ASEAN Secretary-General Kao Kim Hourn welcomed the pledge, stating that it sends a powerful signal of confidence in the region's capacity to deliver on its shared vision. He emphasized that the partnership will help translate these financial commitments into tangible outcomes, such as improved energy connectivity and more inclusive growth for people across Southeast Asia.
In addition to long-term planning, President Kanda addressed immediate global disruptions, specifically those linked to conflicts in the Middle East that have impacted supply chains. He outlined the ADB's readiness to provide fast-disbursing budget support and confirmed that the bank has reactivated temporary private sector support for oil imports to help stabilize economies under fiscal pressure.
During the summit, President Kanda held a series of high-level meetings with leaders from across the region, including the heads of state from Cambodia, Indonesia, Thailand, and the Philippines, to strengthen strategic partnerships.
The Asian Development Bank (ADB) is a major international bank that promotes sustainable and inclusive growth across Asia and the Pacific. By working closely with its members and partners, the ADB uses modern financial tools to improve lives, build high-quality infrastructure, and protect the environment. Established in 1966, the bank is owned by 69 member countries, 50 of which are from the region.
Source:
ADB to Mobilize $30 Billion by 2030 to Support ASEAN Countries | Asian Development Bank
About ADB | Asian Development Bank
Reported by The Khmer Daily Desk
The $30 billion funding pipeline is designed to address a variety of compounding crises, ranging from economic instability to geopolitical uncertainty. The investment strategy targets five major regional initiatives, including $6 billion to deepen capital markets and $5 billion to accelerate the development of the ASEAN Power Grid. Additionally, the funds will support the region’s readiness for artificial intelligence, the growth of the blue economy, and the strengthening of river systems against climate change.
ASEAN Secretary-General Kao Kim Hourn welcomed the pledge, stating that it sends a powerful signal of confidence in the region's capacity to deliver on its shared vision. He emphasized that the partnership will help translate these financial commitments into tangible outcomes, such as improved energy connectivity and more inclusive growth for people across Southeast Asia.
In addition to long-term planning, President Kanda addressed immediate global disruptions, specifically those linked to conflicts in the Middle East that have impacted supply chains. He outlined the ADB's readiness to provide fast-disbursing budget support and confirmed that the bank has reactivated temporary private sector support for oil imports to help stabilize economies under fiscal pressure.
During the summit, President Kanda held a series of high-level meetings with leaders from across the region, including the heads of state from Cambodia, Indonesia, Thailand, and the Philippines, to strengthen strategic partnerships.
The Asian Development Bank (ADB) is a major international bank that promotes sustainable and inclusive growth across Asia and the Pacific. By working closely with its members and partners, the ADB uses modern financial tools to improve lives, build high-quality infrastructure, and protect the environment. Established in 1966, the bank is owned by 69 member countries, 50 of which are from the region.
Source:
ADB to Mobilize $30 Billion by 2030 to Support ASEAN Countries | Asian Development Bank
About ADB | Asian Development Bank
Reported by The Khmer Daily Desk
1778494443 6a01abeb8b352 0