ADB to Double Singapore Office, Reaffirms $10B ASEAN Power Grid Pledge

In a move signaling stronger regional integration and clean energy development, Asian Development Bank (ADB) President Masato Kanda announced plans to double the size of ADB’s Singapore office during his official visit to the city-state. The expansion is part of a broader push to scale up private sector financing and deepen cooperation as Singapore prepares to assume the ASEAN chairmanship in 2027.

Mr. Kanda met with Prime Minister Lawrence Wong, Singapore’s Governor to ADB Indranee Rajah, and several other senior government and business leaders. In each engagement, he emphasized ADB’s commitment to mobilizing capital, enhancing trade and energy interconnectivity, and supporting climate-resilient growth across the Asia-Pacific region.

Expanding ADB’s Singapore Presence

“Singapore is a hub for ideas, talent, and capital,” Mr. Kanda stated. “By doubling our presence here, we can accelerate private investment, enhance regional connectivity through clean energy, and share Singapore’s expertise with the rest of Asia and the Pacific.”

ADB’s Singapore office, which opened in 2020, has been a strategic node for private sector mobilization, trade facilitation, and innovation-led development. The expansion aims to boost these efforts as ADB ramps up its ambition to increase annual private sector financing from $3 billion to $13 billion by 2030. A critical component of this includes direct private capital mobilization of $4.5 billion annually.

The upgraded office is expected to harness Singapore’s thriving ecosystems in fintech, climate innovation, and infrastructure finance. It will also serve as a platform for collaboration with regional partners and investors interested in advancing clean energy, digital transformation, and inclusive growth.

$10 Billion for ASEAN Power Grid

Reiterating ADB’s $10 billion commitment to the ASEAN Power Grid (APG), Mr. Kanda highlighted the strategic importance of the regional energy initiative. The APG aims to build a connected electricity network across Southeast Asia to facilitate cross-border trade in renewable power, improve energy security, and drive down emissions.

ADB’s financing will span both sovereign and private sector projects over the next decade. The bank’s support will focus on expanding national transmission grids, accelerating regional interconnections, and scaling up renewable generation in ASEAN member countries.

“ADB’s support for the ASEAN Power Grid is about building a more resilient and sustainable energy future for our region,” Mr. Kanda said. “By investing in cross-border clean energy links, we are laying the groundwork for energy security and decarbonization at scale.”

ADB is working closely with Singapore’s Energy Market Authority (EMA), which has launched an initiative to import up to 6 gigawatts of low-carbon electricity from neighboring countries. This program is a core part of Singapore’s Green Plan 2030 and has drawn strong regional interest.

Strategic Meetings with Singapore Leadership

During his visit, Mr. Kanda met with Indranee Rajah, Minister in the Prime Minister’s Office and Singapore’s Governor to ADB, to explore opportunities for further leveraging Singapore’s world-class professional services sector in areas such as climate advisory, infrastructure development, and finance. The leaders also addressed common challenges, including the existential threat of sea-level rise for Singapore and Pacific Island nations.

Later, Mr. Kanda met with Monetary Authority of Singapore (MAS) Managing Director Chia Der Jiun to discuss regional financial integration, climate finance innovation, and regulatory collaboration to support large-scale infrastructure investments in ASEAN.

Engagement with Private Sector Leaders

At a roundtable luncheon hosted in Singapore, Mr. Kanda exchanged ideas with chief executives from DBS Bank, Keppel Infrastructure, Alba Group, and ABC Impact. Discussions centered on the challenges and opportunities associated with energy transition, the ASEAN Power Grid, and unlocking green finance.

Executives shared insights on how multilateral institutions like ADB can play a catalytic role by de-risking investments, standardizing regulatory approaches, and promoting blended finance structures to attract institutional capital.

ADB’s Broader Mission

Founded in 1966 and headquartered in Manila, the Asian Development Bank is owned by 69 member countries, including 50 from the Asia-Pacific region. ADB’s core mission is to promote inclusive, resilient, and sustainable growth. Its activities span infrastructure financing, climate resilience, education, digital development, and regional cooperation.

Through its operations, ADB leverages innovative financial tools—such as green bonds, guarantee facilities, and co-investment platforms—to solve complex challenges, transform lives, and support the global shift to a low-carbon economy.

Looking Ahead

As Singapore prepares to chair ASEAN in 2027, the deepening of ADB’s engagement signals a shared commitment to shaping the region’s development agenda. The expansion of the Singapore office is expected to enhance the bank’s ability to serve as a bridge between Asia’s emerging economies and global markets.

“ADB is proud to partner with Singapore in our shared pursuit of a prosperous, sustainable, and interconnected region,” Mr. Kanda concluded.