The Asian Development Bank will provide $70 billion support for two new initiatives in the Asia-Pacific region.

The Asian Development Bank announced on the 3rd that by 2035, the bank will provide $70 billion in funding support for two new initiatives, the Pan-Asia Electric Grid Initiative and the Asia-Pacific Digital Highway, to promote the interconnection of electric grids in the Asia-Pacific region, expand cross-border electricity trade, and improve broadband access.