FROM PAGE B1

This will improve energy access for about 200 million people and reduce regional power sector emissions by about 15 percent. It will also help create 840,000 jobs, he said at the press conference.

ADB officials at the venue said their approach will be to support domestic, subregional, and then regional power grids. Building domestic capacity for strong transmission systems will be vital for countries like Bangladesh to connect to and benefit from the grid.

The initiative will focus on transmission and grid integration, including cross-border lines, substations, storage, and grid digitalisation. It will also support power generation linked to electricity trade, including renewable energy export projects, regional renewable hubs, and hybrid generation-storage facilities.

Kanda said linking power grids and digital networks across borders will lower costs, expand opportunities, and bring reliable power and digital access to hundreds of millions of people.

The international agency said the power grid initiative marks a shift from country-to-country energy links to a regional approach to power trade.

It builds on existing subregional cooperation initiatives, including the South Asia Subregional Economic Cooperation (SASEC) programme, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) grid interconnection planning, the ASEAN Power Grid, and the Central Asia Regional Economic Cooperation Energy Strategy 2030.

Bangladesh is part of SASEC and a member of BIMSTEC.

ADB said the Asia-Pacific Digital Highway will mobilise $20 billion by 2035 to finance digital corridors, data infrastructure, and AI-ready economies. Investments will focus on connected infrastructure, including terrestrial and subsea fibre networks, satellite links, and regional data centres.

In his press conference, Kanda also addressed the impact of conflict in the Middle East.

“The first blow landed in energy, but it did not stop there, with higher prices quickly spilling into fuel, freight, food, and fertiliser,” he said.

He added that the shock exposes the cost of overreliance. ADB, in March, announced a financial support package to help developing member countries manage the economic fallout from the Middle East conflict.

ADB is using its Trade and Supply Chain Finance Program as an immediate tool for short-term financing. “In addition, we are providing fast-disbursing budget support to protect vulnerable populations. Finally, we are deploying rapid-response and medium-term resilience tools to stabilise economies,” Kanda said.