ADB pledges $24 billion for Asean integration 

The Asian Development Bank (ADB) has unveiled plans to provide an estimated $24 billion in support to Southeast Asia over the next three years, as part of a robust strategy to deepen regional cooperation and integration, according to a report by Manila Times.

The commitment was reaffirmed by ADB President Masato Kanda during the 16th Summits of the Brunei Darussalam–Indonesia–Malaysia–Philippines East Asean Growth Area (BIMP-EAGA) and the Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT).

"The region is navigating the impacts of trade and geopolitical tensions, rapid technological change, and growing threats to food and energy security," Kanda said.

"Yet these challenges also present exceptional opportunities to strengthen resilience and drive sustainable economic growth. Our long-standing partnerships will help us turn obstacles into new pathways for progress," he added.

The pledge will target key areas such as cross-border infrastructure, energy integration, private-sector development and food security, which are deemed essential for fostering a more interconnected and resilient Southeast Asia.

Kanda added that the Manila-based bank also wanted to expand regional energy cooperation with a readiness to mobilize $10 billion to fast-track the Asean Power Grid initiative. This funding will support cross-border electricity interconnections, national grid enhancements and renewable energy development — efforts closely aligned with BIMP-EAGA and IMT-GT agendas.

It also plans to scale up private-sector financing, projecting a fourfold increase to $13 billion annually by 2030, and aims to double its trade and supply chain financing for Southeast Asia to $2.5 billion a year within the same period.

In the BIMP-EAGA area — seen as Asean's food basket — the ADB has already invested $500 million in agricultural development and $93 million in sustainable aquaculture. An additional $500 million has been channeled into efforts to reduce marine plastic waste.

Kanda also announced a $400-million loan for the Philippines aimed at restoring marine ecosystems and strengthening the country's blue economy — a vital sector for coastal communities and regional trade.