PNG to benefit as ADB unveils K300 billion regional power and digital plan

 Papua New Guinea stands to gain from a massive financing push announced by the Asian Development Bank, which will mobilise close to K300 billion to strengthen electricity networks and digital links across Asia and the Pacific.

PNG to benefit as ADB unveils K300 billion regional power and digital plan/Photo supplied

The funding initiative was revealed by ADB President Masato Kanda during a media briefing on Sunday in Samarkand, where leaders have gathered for the bank’s 59th Annual Meeting.

The historic Silk Road city is hosting the high-level talks, with the Board of Governors session set to begin on Monday. Leaders, including Uzbekistan’s president and the ADB chief, are expected to outline priorities for regional growth and connectivity.

PNG has in recent years accessed nearly K500 million from the ADB to expand electricity access, particularly targeting connections to the national grid for households and communities.

Under the new plan, the bank aims to roll out large-scale investments across member countries, focusing on energy systems and digital infrastructure to support long-term development.

Mr Kanda said the initiative would mobilise US$70 billion by 2035, including US$50 billion for a Pan-Asia Power Grid and US$20 billion for an Asia Pacific Digital Highway.

He told reporters the program is designed to lift living standards and drive economic opportunities across the region.

“This will improve energy access for about 200 million people and reduce regional power sector emissions by about 15 percent [and] it will help create 840,000 jobs,” Mr Kanda said.