Masato Kanda, President of the Asian Development Bank (ADB), expressed enthusiasm about supporting Nepal’s newly elected government following a youth movement. ADB has announced plans to invest $7 billion by 2035 to expand the energy grid and digital networks. The bank aims to invest $5 billion in energy infrastructure and $2 billion in digital infrastructure to enhance cross-border electricity trade and improve digital access.
Kanda made these remarks at ADB’s 59th Annual Meeting, which commenced Sunday in Samarkand, Uzbekistan. Responding to questions during the event, he said, “We have already begun discussions on how to assist Nepal’s new government, and we are enthusiastic about supporting the government in building a prosperous future for Nepal.” He also emphasized ADB’s zero-tolerance stance on corruption, stating, “I will not tolerate any form of corruption. We have a firm policy on this matter, and effective measures are taken if corruption is confirmed.”
Kanda announced a new $7 billion initiative to connect energy grids and expand digital networks across Asia and the Pacific by 2035. This plan aims to increase cross-border electricity trade and enhance broadband internet access in the region. Through the Pan-Asia Power Grid, ADB intends to link national and subregional electric systems to boost electricity flows across borders. The ambitious plan includes constructing 22,000 circuit kilometers of transmission lines and integrating approximately 20 gigawatts of renewable energy into the cross-border grid.
To address gaps in digital infrastructure, ADB will invest $2 billion in the Asia Pacific Digital Highway. These funds will be used to develop digital corridors, data infrastructure, and AI-driven economies, with a focus on remote and geographically challenging areas. Of the $2 billion, $1.5 billion will be invested directly by ADB, while $0.5 billion will come from co-financing partners including the private sector.
