The Ministerial Interface Meeting on Financial Mechanisms for the ASEAN Power Grid (APG) was convened virtually on 14 August 2025 under Malaysia’s ASEAN Chairmanship. The Meeting reviewed the APGF Implementation Plan presented by ADB and the World Bank, discussed global financing options to support regional power connectivity, and adopted a Joint Media Statement affirming the APG’s role in energy security, sustainable growth, and ASEAN Vision 2045.

On the afternoon of 14 August 2025, the Ministerial Interface Meeting on Financial Mechanisms for the ASEAN Power Grid (APG) was convened virtually under the chairmanship of Malaysia’s Deputy Prime Minister and Minister for Energy Transition and Water Transformation, in its capacity as the ASEAN Chair for 2025.

The Meeting was attended by ASEAN Economic Ministers (AEM), ASEAN Energy Ministers (AMEM), ASEAN Finance Ministers and Central Bank Governors (AFMGM) from the 10 ASEAN Member States, with Timor-Leste participating as an Observer. The Vietnamese delegation was led by Deputy Minister of Industry and Trade Nguyễn Hoàng Long, joined by representatives from the Ministry of Finance, the State Bank of Viet Nam, and relevant departments under the Ministry (Multilateral Trade Policy Department, International Market Development Department, and the Electricity Authority of Viet Nam).

The Meeting took place against the backdrop of ASEAN’s strong push to advance the ASEAN Power Grid (APG) initiative, a key component under the ASEAN Plan of Action for Energy Cooperation (APAEC) currently being developed for the new 2026–2030 phase. The APG aims to interconnect national power grids across ASEAN to strengthen energy security, diversify supply sources, improve resource efficiency, and promote cross-border electricity trade. The ASEAN Power Grid Financing Initiative (APGF) has been introduced to provide financial support, laying a solid foundation for achieving these objectives.

During the meeting, ASEAN Economic and Energy Ministers, together with Central Bank Governors, discussed several key issues:

(i) enhancing cross-sectoral coordination on the APGF;

(ii) considering the APGF Implementation Plan presented by the Asian Development Bank (ADB) and the World Bank (WB);

(iii) exchanging views on each sector’s potential contributions in mobilising resources and promoting regional energy connectivity; and

(iv) discussing next steps to mobilise global capital in support of the APG initiative

Based on reports from the ASEAN Secretariat and relevant agencies, Ministers of Economy, Finance, Energy, and Central Bank Governors acknowledged updates on the APGF Implementation Plan and adopted a Joint Media Statement reaffirming the APG’s role in enhancing economic competitiveness, driving sustainable industrial growth, advancing connectivity and energy security, and contributing to the ASEAN Vision 2045. They also recognised the APGF as a cornerstone mechanism for mobilising financing for cross-border power connectivity projects in the region. Ministers further tasked relevant bodies within the ASEAN Economic Community to work closely with ADB and WB in overseeing and implementing the APGF.

On behalf of Viet Nam, Deputy Minister Nguyễn Hoàng Long welcomed progress in advancing the APG initiative and commended the coordinated efforts of the ASEAN Secretariat, the ASEAN Centre for Energy, and development partners in formulating the APGF Implementation Plan. He highlighted that the ADB has pledged up to USD 10 billion over the next decade to support the ASEAN Power Grid, while the World Bank has committed USD 2.5 billion through its “Adaptive Staged Energy Transition Multi-Phase Programmatic Approach (ASET-MPA),” approved in 2024, to accelerate renewable energy development and regional electricity trade.

Viet Nam emphasised that the APG is not only a flagship regional initiative but also a strategic measure under the ASEAN Economic Community (AEC) Strategic Plan 2026–2030, aimed at realising the goal of “A Community connected through growing networks of sustainable infrastructure”. On this basis, Viet Nam will continue to review proposals, exchange information, and seek potential cooperation consistent with national conditions and development priorities, with a view to promoting cross-border power connectivity. Viet Nam also expressed confidence that with strong commitment and close coordination among ASEAN Member States and partners, the APGF will become an essential instrument to advance the realisation of the APG.

The meeting concluded successfully in the afternoon of the same day, reflecting ASEAN’s shared determination to enhance regional energy connectivity through cross-sectoral cooperation, coherent policies, and innovative financial solutions, in pursuit of a sustainable, secure, and interconnected future.