MANILA, 15th November, 2026 (WAM) -- Asian Development Bank (ADB) President Masato Kanda announced two initiatives to mobilize up to $13 billion by 2030 for resilient rivers and the digital economy across Southeast Asia. The announcements complete ADB’s $30 billion pledge to support the development priorities of the Association of Southeast Asian Nations (ASEAN).
“Rivers sustain economies and communities across Southeast Asia. Digital interoperability and trade are also a source of resilience, prosperity, and opportunity,” said Kanda. “As the region’s main bank, ADB has pledged $30 billion to ASEAN to turn ambition into action. We will be judged by what gets built and by whose lives improve.”
Kanda made the announcements in his address to the ASEAN Business and Investment Summit in Manila, held alongside the 49th ASEAN Summit and Related Summits. He also signed a new five-year memorandum of understanding with ASEAN, formally designating ADB as the region’s main bank.
The ASEAN Resilient Rivers Initiative aims to mobilize up to $8 billion in public and private financing by 2030 to strengthen water and food security and reduce damage from floods and droughts. It will help countries coordinate investments in modern irrigation systems, flood defenses, and improved water management across river basins. These investments will safeguard the food systems, water supplies, livelihoods, and ecosystems that depend on healthy rivers.
The second initiative, the ASEAN Regional Platform for AI and Digital Economy, aims to mobilize up to $5 billion in public and private financing by 2030 to support implementation of the ASEAN Digital Economy Framework Agreement. It will back policy reforms and investments in digital infrastructure, cross-border payment systems and verifiable IDs, cybersecurity, and AI readiness. These efforts will improve the interoperability of digital systems across the region and facilitate digital trade, especially for micro, small, and medium-sized enterprises. ADB will also help governments identify bankable projects, support project preparation, and mobilize financing.
The $30 billion pledge also encompasses previously announced initiatives supporting regional capital markets, power grid integration, and the blue economy. These include a $6 billion capital markets initiative, a fund to prepare ASEAN Power Grid projects, and financing for healthier seas and coastal economies. Kanda first announced the package of commitments in Cebu (Philippines) in May.