Manila, May 15 (AseanAll) — Asian Development Bank (ADB) President Masato Kanda met Philippine President Ferdinand R. Marcos Jr. at Malacañan Palace on May 15, 2026 and said ADB is ready to provide up to $1.75 billion in additional financing to support the Philippines to manage the economic impact of the Middle East conflict.
“The Philippines is ADB’s home, and we see the strain this crisis is placing on Filipino families, workers, and businesses,” said Mr. Kanda. “ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience.”
The Philippines has been hit hard by the Middle East conflict because of its heavy reliance on imported oil, fertilizers, and other global commodities. The government has declared a national energy emergency and moved to protect Filipinos through the Unified Package for Livelihoods, Industry, Food, and Transport, including fuel subsidies, excise tax reductions on some oil products, and cash assistance for transport workers, farmers, fishers, and repatriated overseas Filipino workers.
ADB has offered to support the government to manage fiscal pressures through additional policy-based and countercyclical lending of up to $1.75 billion, as well as trade finance if needed, to be able to provide further assistance to vulnerable Filipinos and mitigate the impact of the oil supply and other shocks on the economy. This is on top of around $2 billion in policy-based loans being prepared for the Philippines this year.
ADB is also working with government agencies to protect vulnerable people and strengthen longer-term resilience. This includes advisory support to the Department of Agriculture on domestic fertilizer security, assistance to the Department of Social Welfare and Development on social protection, and support for energy security, clean energy, energy efficiency, and mass transit investments to reduce exposure to fuel-price shocks.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
