The Asian Development Bank (ADB) and the World Bank (WB) have commit more than USD12 billion to accelerate the ASEAN Power Grid (APG) and renewable energy initiatives.
The APG seeks to interconnect regional grids to strengthen energy security, diversify sources, optimise resource use, and promote cross-border electricity trade. ADB pledged up to USD10 billion over the next decade for interconnections, grid upgrades, and renewable-linked exports, while the WB will channel USD2.5 billion through its Accelerating Sustainable Energy Transition Multi-Phase Programmatic Approach (ASET-MPA).