ASIATODAY.ID, KUALA LUMPUR — Regional cooperation in Southeast Asia received a significant boost during the 16th Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA) and Indonesia–Malaysia–Thailand Growth Triangle (IMT-GT) Summits, May 27, 2025.
President of the Asian Development Bank (ADB), Masatsugu Asakawa, and President of Indonesia, Prabowo Subianto, stood united in urging stronger food and energy security as key pillars of regional resilience and sovereignty.
“The region is navigating major challenges such as geopolitical tensions, technological disruption, and threats to food and energy security. But these also present opportunities for sustainable economic growth,” said President Asakawa.
The ADB announced a substantial commitment of $24 billion over the next three years to enhance regional integration across Southeast Asia. Priority areas include: Improving cross-border connectivity, Promoting private sector-led growth, Advancing energy integration, and Strengthening food security systems.
To address vulnerabilities in food systems, ADB is expanding its financing to $40 billion through 2030. In the BIMP-EAGA subregion—dubbed the “food basket of ASEAN”—ADB has: Invested $500 million in agriculture development, Allocated $93 million for sustainable aquaculture, and Committed $500 million to reducing marine plastic pollution.
At the BIMP-EAGA Summit, ADB also announced an upcoming $400 million loan to support marine ecosystem restoration and boost the blue economy in the Philippines.
Advancing Energy Integration and Private Sector Involvement
To accelerate the ASEAN Power Grid, ADB is ready to provide $10 billion in energy financing, covering: Cross-border interconnections, National grid expansion, and Renewable energy deployment.
Aligned with regional priorities, ADB aims to quadruple private sector financing to $13 billion annually by 2030 and double trade and supply chain financing for Southeast Asia to $2.5 billion annually.
Prabowo: Food and Energy Security are Foundations of Regional Sovereignty
In his keynote speech at the BIMP-EAGA Summit, President Prabowo Subianto emphasized that food and energy security must become cornerstones of the region’s independence and long-term stability.
“I propose that we focus on making our subregion a regional food production hub. Let us strengthen cooperation and economic integration,” said President Prabowo.
He also highlighted the potential of utilizing the region’s energy resources to enhance self-reliance. President Prabowo called for fast-tracking infrastructure projects, increasing private sector engagement, and reforming governance mechanisms within BIMP-EAGA to ensure timely implementation.
“With deeper collaboration and integration, our people will share in the benefits, and BIMP-EAGA can play a larger role in the region,” he added.
Closing his speech, President Prabowo urged fellow leaders to align BIMP-EAGA’s long-term vision with ASEAN 2045 goals, turning the subregion into a model of sustainable, inclusive, and future-ready development.
“We are fully committed and ready to realize this vision,” he affirmed. (AT Network)
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