ADB Commits $1.75 Billion Crisis Support to Philippines Amid Middle East Conflict
The Asian Development Bank (ADB) has committed up to $1.75 billion in additional financing to assist the Philippines in mitigating the economic impacts of the ongoing Middle East conflict. ADB President Masato Kanda presented this offer during a meeting with Philippine President Ferdinand R. Marcos Jr. at Malacañan Palace on May 15, 2026. The funding aims to cushion the country against rising oil prices, global commodity disruptions, and fiscal pressures resulting from the crisis. This commitment is supplementary to the $2 billion in policy-based loans already being prepared for the Philippines this year. The support includes policy-based lending, countercyclical financing, and trade finance options. President Marcos had previously declared a national energy emergency and launched the Uplift program, which provides fuel subsidies and cash assistance to vulnerable sectors. The ADB is also coordinating with Philippine government agencies on long-term resilience measures, such as fertilizer security, social protection, and clean energy initiatives, to reduce the nation's vulnerability to external shocks and fuel price volatility.
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