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Ministry of Finance (MOF)
Press Releases

Singapore and the World Bank Group Launch ASEAN Power Grid Mobilisation Partnership

1 October 2026

Topics

Infrastructure Financing

International

  1. The Ministry of Energy, Trade and Industry (METI), the Ministry of Finance (MOF), and the World Bank Group launched a three-year ASEAN Power Grid Mobilisation Partnership (AMP) on 1 October 2026 between the Government of Singapore and the World Bank Group. The partnership will focus on strengthening the regulatory, institutional, and financing environment for cross-border electricity trade, including issues related to cross-border wheeling arrangements, while promoting regional cooperation, capacity building, and knowledge exchange among ASEAN Member States.

  2. The AMP was signed by Mr Conran Chia, Director, Energy Partnerships Division, METI; Mr Alvin Lim, Director-General, International Directorate, MOF; and Ms Kristina Svensson, Singapore Regional Hub Manager, World Bank.

  3. The partnership draws on the World Bank Group's technical expertise and experience in infrastructure financing, energy markets, and regional power trade. It complements the World Bank Group's broader support for developing the ASEAN Power Grid through technical assistance, financing, and private sector engagement.

  4. Mr Conran Chia, Director (Energy Partnerships) at METI, said, “Singapore is pleased to forge a new partnership with the World Bank Group on the ASEAN Power Grid. We recognise that there is deep interest among the financing community to participate in the ASEAN Power Grid, but unlocking this interest requires regulatory and other bankability hurdles to be satisfactorily addressed. Singapore is optimistic that the ASEAN Power Grid Mobilisation Partnership will address these hurdles, which in turn will support ASEAN’s efforts to create a more connected and resilient grid.”

  5. Mr Alvin Lim, Director-General (International) at MOF, said, “The ASEAN Power Grid is an important undertaking that will enable the region’s energy transition and resilience. Singapore is pleased to partner with the World Bank Group and ASEAN Member States to address existing gaps in project implementation and improve project bankability. The ASEAN Power Grid Mobilisation Partnership will help strengthen the foundation of ASEAN’s power systems and move us towards a more connected and energy-secure ASEAN.”

  6. Ms Kristina Svensson, Singapore Regional Hub Manager, World Bank, said, “Realising the ASEAN Power Grid will require sustained regional collaboration, practical solutions, private sector investment, and strong institutional capacity. The World Bank Group is pleased to contribute its global experience, technical expertise, convening power, and financing capabilities to help ASEAN partners translate shared ambition into investable projects and tangible benefits for people and economies across the region."

Jointly Issued by the Ministry of Energy, Trade and Industry, Singapore; The Ministry of Finance, Singapore; And the World Bank Group

1 October 2026