DOF welcomes $25-M Asean energy fund
The Department of Finance (DOF) welcomed the launch of the $25-million Regional Connectivity Fund (RCF) for Energy in Southeast Asia, saying the facility will help turn regional power projects into “bankable” investments and unlock much-needed private capital for infrastructure.
Speaking at the 2026 Asean Finance Deputies’ Meeting, Finance Undersecretary Joven Balbosa said the fund supports the region’s collective push for stronger connectivity and energy security.
“As a growing economy with rising energy demand and one highly exposed to extreme weather and external shocks, we are focused on building systems that deliver growth, resilience, and inclusion at the same time,” he said.
“Achieving this at scale requires sustained public investment. But even more, it requires us to crowd in long-term capital, align institutions and create confidence for the private sector,” Balbosa added.
The multipartner fund, which will be implemented through the Asean Infrastructure Fund (AIF) in partnership with the Asian Development Bank (ADB), is the first facility in the region dedicated to financing project preparation for the Asean Power Grid.
“For the Philippines, the RCF is particularly noteworthy as an instrument of the AIF. This demonstrates how shared Asean action can mobilize finance, reinforce national development goals, and advance our collective vision for regional connectivity and energy security,” Balbosa said.
According to ADB, the Asean Power Grid could deliver energy security to nearly 700 million people across Southeast Asia, with regional energy demand projected to triple by 2050.
