28-05-2025
ADB President Reaffirms Strong Support for Regional Cooperation and Integration at BIMP-EAGA and IMT-GT Summits
KUALA LUMPUR, MALAYSIA (28 May 2025) — Asian Development Bank (ADB) President Masato Kanda has reaffirmed ADB's strong commitment to advancing regional cooperation and integration at the 16th Summits of the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA) and the Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT).
'The region is navigating the impacts of trade and geopolitical tensions, rapid technological change, and growing threats to food and energy security,' said Mr. Kanda. 'Yet these challenges also present exceptional opportunities to strengthen resilience and drive sustainable economic growth. Our longstanding partnerships will help us turn obstacles into new pathways for progress.'
ADB plans to provide an estimated $24 billion in support for Southeast Asia over the next 3 years, with a strong focus on deepening regional cooperation and integration. This includes expanded investments to strengthen connectivity, private sector-led growth, energy integration, and food security.
To address food systems vulnerabilities, ADB is increasing financing to $40 billion through 2030. In BIMP-EAGA, known as the "ASEAN's food basket,' ADB has invested $500 million for agricultural development, $93 million for sustainable aquaculture, and $500 million for plastic marine debris reduction. Mr. Kanda announced a forthcoming $400 million loan at the BIMP-EAGA Summit to restore marine ecosystems and strengthen the blue economy in the Philippines.
ADB's commitment to energy integration includes readiness to provide $10 billion in financing to accelerate action on the ASEAN Power Grid through cross-border interconnections, national grid expansions, and renewable energy.
Aligned with BIMP-EAGA and IMT-GT priorities to enhance connectivity through the private sector, ADB is scaling up private sector financing with a projected four-fold increase to $13 billion annually by 2030. It aims to double its trade and supply chain financing for Southeast Asia to $2.5 billion annually by 2030.
In a bilateral meeting with Malaysian Prime Minister Anwar Ibrahim, Mr. Kanda commended Malaysia's leadership in ASEAN, including its role in advancing the ASEAN Power Grid. He expressed interest in deepening cooperation, particularly in private sector mobilization and regional cooperation and integration. He welcomed the renewed Agreement of Cooperation between Malaysia and ADB, and reaffirmed ADB's knowledge support for green city development across 14 cities.
In his meeting with Thai Prime Minister Paetongtarn Shinawatra, Mr. Kanda noted Thailand's strong focus on private sector development. He welcomed renewed momentum in sovereign lending to the country, which will support transport, health care, and flood management.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
