Current Affairs - Banking - Discussion

The Asian Development Bank (ADB) announced a $70 billion investment initiative aimed at strengthening cross-border power grids and digital infrastructure across Asia and the Pacific by 2035. The announcement was made during the ADB Annual Meeting held in Samarkand, Uzbekistan. The initiative includes the Pan-Asia Power Grid project, which seeks to integrate renewable energy systems and transmission networks, and the Asia-Pacific Digital Highway project, focused on improving broadband access, data infrastructure, and AI readiness. The ADB also established a Centre for AI Innovation and Development in Seoul to promote responsible AI adoption and digital skill training. Founded in 1966, the ADB is headquartered in Metro Manila, Philippines.