ADB pledges up to $1.75 billion in support to PH amid Middle East crisis

Asian Development Bank (ADB) President Masato Kanda paid a courtesy call to President Ferdinand R. Marcos Jr. expressing the ADB’s readiness to extend up to $1.75 billion to help the Philippines in managing the economic impacts of the ongoing conflict in the Middle East.

During the visit, Kanda, and the other ADB executives, reaffirmed their commitment to supporting the Philippines, where the bank's headquarters is located.

Kanda noted that the Philippines holds a special position for the institution and acknowledged the significant strain the ongoing crisis is placing on both the economy and its citizens.

“ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience,” Kanda asaid.

He outlined ADB’s broader development priorities, which include human development, infrastructure expansion, economic competitiveness, climate resilience, disaster preparedness, and improved access to health and social services.

The Philippines has been significantly affected by the Middle East conflict due to its dependence on imported oil, fertilizers, and other global commodities.

To address the situation, President Marcos earlier signed Executive Order No. 110 on March 24, 2026, declaring a state of national energy emergency. The order seeks to ensure energy stability, maintain essential services, and protect vulnerable sectors.

The EO also adopted the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), a government-wide response program chaired by the President to coordinate mitigation measures.

ADB said its proposed support includes up to $1.75 billion in policy-based and countercyclical lending, along with potential trade finance assistance to help cushion vulnerable sectors from rising fuel and commodity prices.

This is in addition to roughly $2 billion in policy-based loans already being prepared for the Philippines this year.

The bank also said it is working with government agencies on long-term resilience measures, including advisory support for fertilizer security, social protection programs, and investments in clean energy, energy efficiency, and mass transit systems.

Founded in 1966 and owned by 69 members—most from the Asia-Pacific region—the ADB continues to promote sustainable and inclusive development across the region through financing, infrastructure support, and technical assistance.

-Paraluman News