Asian Development Bank (ADB) President Masato Kanda has pledged to strengthen ADB’s support for the Association of Southeast Asian Nations (ASEAN) as the regional bloc begins implementing its long-term development agenda, ASEAN Vision 2045. Speaking at the 32nd ASEAN Economic Ministers’ Retreat in Manila, he emphasized that Southeast Asia is prioritizing economic integration and cooperation despite growing global uncertainty, and said ADB is ready to play a stronger role as a key financing and advisory partner for the region.
ADB’s expanded support will focus on three main areas: providing dedicated financing for both government and private sector projects that align with ASEAN priorities, supporting early-stage project development to make regional initiatives ready for investment, and strengthening regional coordination through deeper advisory support for ASEAN sectoral bodies. These efforts are intended to help turn ASEAN’s long-term ambitions into practical, large-scale implementation.
During discussions with economic ministers, Kanda also acknowledged that ASEAN’s long-term goals are being shaped by immediate global challenges, including the ongoing conflict in the Middle East and its possible spillover effects in Asia, such as rising energy prices and inflation. He noted that ADB stands ready to support ASEAN member states in responding to these pressures if necessary.
ADB is already moving forward with several major long-term regional initiatives. One of the most significant is the ASEAN Power Grid, for which the bank is prepared to commit up to $10 billion over the next decade. In addition, ADB is working on initiatives to improve artificial intelligence readiness, strengthen capital markets, advance the blue economy, and enhance river and flood resilience. Through these efforts, the bank aims to help ASEAN convert its regional priorities into investable projects and large-scale development outcomes.
The announcement came during a week in which ASEAN economic ministers gathered in Manila to review regional and global economic conditions and discuss economic priorities. ADB also supported the ASEAN Business Environment Forum and launched a new report on advancing the green economy transition in ASEAN, bringing together government and private sector leaders and reinforcing its broader role in supporting the region’s economic transformation.
ADB remains one of the leading multilateral development banks in Asia and the Pacific, focused on promoting inclusive, resilient, and sustainable growth. Through strategic partnerships, innovative financing tools, and support for quality infrastructure and regional cooperation, the bank continues to play a major role in addressing development challenges across the region.
