Asian Development Bank (ADB) President Masato Kanda paid a courtesy call on President Ferdinand R. Marcos Jr. at Malacañan Palace on Friday and expressed the bank’s readiness to provide up to USD $1.75 billion in additional financing to help the Philippines manage the economic fallout from the ongoing conflict in the Middle East.
Accompanied by senior ADB executives, Kanda emphasized that the Philippines is ADB’s home and acknowledged the strain the crisis is placing on Filipino families, workers, and businesses.
“ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience,” Kanda said.
The additional financing, which is on top of around USD $2 billion in policy-based loans being prepared for the Philippines this year, may include countercyclical lending and trade finance to support vulnerable Filipinos and mitigate the impact of global oil and commodity shocks.
ADB’s strategy emphasizes:
- Human development and social protection to safeguard communities.
- Economic competitiveness and quality infrastructure to support growth.
- Nature-based development and disaster resilience, including climate mitigation, adaptation, and conservation.
- Skills development to boost employment and business recovery.
- Energy security through clean energy, energy efficiency, and mass transit investments.
ADB is collaborating with Philippine government agencies, providing advisory support to the Department of Agriculture on fertilizer security, assisting the Department of Social Welfare and Development on social protection measures, and supporting broader energy and infrastructure initiatives.
The Philippines has been significantly impacted by the Middle East conflict due to its reliance on imported oil, fertilizers, and other global commodities. In response, President Marcos signed Executive Order No. 110 on March 24, 2026, declaring a state of national energy emergency to ensure the stability of the country’s energy supply and protect essential services and economic activity.
The Executive Order also adopted the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), a whole-of-government response framework, overseen by the UPLIFT Committee chaired by President Marcos.
