ADB Seeks Bigger Private Sector Role in Asia’s Growth

Kanda said the need for stronger partnerships has become even greater as Asia and the Pacific face repeated economic and geopolitical shocks.

The Asian Development Bank (ADB) is strengthening its partnership with global business leaders to attract more private investment into projects that can improve lives across Asia and the Pacific. ADB President Masato Kanda said governments cannot solve the region's biggest development challenges on their own and called for stronger collaboration with the private sector to deliver practical solutions.

Speaking at the second meeting of ADB's High-Level Private Sector Advisory Group, Kanda said businesses offer much more than funding because they bring innovation, technology, operational expertise, and the ability to deliver projects quickly and efficiently. He said ADB wants to connect those strengths with urgent regional needs such as reliable energy, digital infrastructure, resilient supply chains, and the development of critical minerals.

Global executives back investment-driven development

The advisory group includes some of the world's leading figures in banking, finance, insurance, investment, and industry. Participants include BNP Paribas Chairman Jean Lemierre, Franklin Templeton CEO Jenny Johnson, Standard Chartered Group Chair Maria Ramos, Sumitomo Mitsui Banking Corporation President and CEO Akihiro Fukutome, Tata Sons Chairman Natarajan Chandrasekaran, Temasek Holdings CEO Dilhan Pillay Sandrasegara, and Zurich Insurance Group CEO Mario Greco.

Kanda established the group to bring international business experience into ADB's efforts to attract more private capital while encouraging greater use of technology and efficient business practices in development projects. After holding its first meeting in Davos earlier this year, the group continues to advise the bank on turning major regional priorities into projects that can attract large-scale private investment.

New regional projects target energy, digital links and minerals

Kanda said the need for stronger partnerships has become even greater as Asia and the Pacific face repeated economic and geopolitical shocks. He noted that the recent conflict in the Middle East, despite a ceasefire, highlighted how vulnerable economies remain when they depend on lengthy and fragile supply chains.

ADB is focusing on building investment-ready regional platforms that encourage private participation. One of its flagship plans is the Pan-Asia Power Grid Initiative, which seeks to mobilize $50 billion by 2035 to expand cross-border electricity networks and improve energy access for around 200 million people.

Another major project is the Asia-Pacific Digital Highway, expected to attract $20 billion by 2035 for fiber-optic networks, submarine cables, and data centres that could strengthen digital connectivity for 650 million people. The bank is also promoting the Critical Minerals-to-Manufacturing Financing Partnership Facility, designed to help countries move beyond exporting raw minerals by expanding local processing, manufacturing, and recycling industries, creating stronger value chains and new economic opportunities across the region.