MANILA, 15th November, 2026 (WAM) -- The Asian Development Bank (ADB) and the Republic of Korea have signed an agreement establishing a $20 million fund to help Asia and the Pacific use artificial intelligence (AI) to improve health care, education, agriculture, and public services, while managing the risks the technology poses.
“Artificial intelligence is changing how countries compete and how people live. Everyone in Asia and the Pacific deserves the opportunity to benefit from this transformation,” said ADB President Masato Kanda. “Together with the Republic of Korea, we will put AI to work safely and responsibly, mindful of the risks, where it can make a difference: in classrooms, hospitals, farms, and the public services millions of people depend on.”
The agreement establishes the Korea Artificial Intelligence for Development (K-AID) Trust Fund, which will help developing economies adopt AI, strengthen their technological capabilities, and prepare workers for an increasingly AI-driven economy. The fund combines ADB’s financing and development expertise with the Republic of Korea’s technological capabilities.
Many countries face significant obstacles to adopting AI, including limited access to affordable computing power and data infrastructure, shortages of skilled workers, and inadequate institutions and policies.
The fund will help governments overcome these barriers and move beyond small-scale pilot projects toward broader adoption of AI.
Administered by ADB’s Digital Sector Office, K-AID will finance technical assistance, research, and project preparation. This includes assessing countries’ readiness for AI and their capacity to identify and manage its risks, identifying infrastructure gaps, testing AI applications in health, education, agriculture, and public services, and preparing investments for ADB financing.
The fund will also support education and skills development to help workers adapt to technological change. For small island developing states and other countries vulnerable to severe environmental threats, AI could offer new ways to address pressing challenges.