BANGKOK, October 15, 2026 — The World Bank Group today announced the first project under the Dynamic Response for Invigorating Value Chains and Energy Security (DRIVE) framework, advancing its partnership with Japan to strengthen energy and supply chain resilience across Asia, attract private investment, create jobs, and support long-term economic growth.
DRIVE was launched by World Bank Group President Ajay Banga and Japan’s Minister of Finance Katayama Satsuki in June 2026 to complement Japan’s US$10 billion Partnership on Wide Energy and Resources Resilience Asia (POWERR Asia). The framework brings together World Bank Group financing and expertise with Japan’s development finance capabilities to help countries respond to energy and supply chain disruptions and reduce their vulnerability to future shocks.
Katayama Satsuki, Japan’s Minister of Finance, said “Strengthening resilience of Asia’s energy supply chains is essential. Japan is advancing POWERR Asia, including through DRIVE, and I welcome the first joint project under DRIVE. Working closely with the World Bank Group, Japan will continue to drive efforts to strengthen energy and economic resilience across Asia.”
Ajay Banga, President of the World Bank Group, said “Reliable, affordable energy powers businesses, creates jobs, and helps economies withstand shocks. This first project puts our partnership with Japan to work—bringing in private capital to strengthen energy security and help industries grow across Asia. It is a foundation we can build on to create more opportunity for people across the region.”
Turning Partnership into Investment
The first project under DRIVE is an investment in the Emerging Asia Infrastructure Credit Fund, established under a Singapore government initiative to support Asia’s transition to cleaner energy. The privately managed fund is targeting US$750 million to finance investments that reduce carbon emissions and improve energy efficiency across Southeast and South Asia. The fund, managed by Global Infrastructure Partners, part of BlackRock, will provide financing to private companies investing in cleaner technologies and industrial transformation.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is investing up to US$50 million in the fund, alongside the Japan International Cooperation Agency (JICA). The investment brings together World Bank Group and Japanese financing to help mobilize additional private capital for projects that can diversify energy sources, improve energy efficiency, and support the transition toward lower-carbon growth.
