Asian Development Bank (ADB) president Masato Kanda paid a courtesy call on Friday to President Ferdinand R. Marcos Jr. and expressed readiness to provide up to $1.75 billion in additional financing to help the Philippines manage the economic impact of the ongoing Middle East conflict.

The ADB president was accompanied at Malacañan Palace by other executives of the bank which is headquartered in Manila.

In a statement, Kanda said that the Philippines is ADB’s home and that “we see the strain this 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 also said.

ADB’s strategy focuses on human development, economic competitiveness, and quality infrastructure, while boosting nature-based development and disaster resilience, connecting communities through infrastructure, climate readiness through mitigation, adaptation, and conservation, disaster resilience, skills development towards business and employment recovery, advancing social protection, and improving access to health care.

The Philippines has been hit hard by the Middle East conflict because of its reliance on imported oil, fertilizers, and other global commodities from other countries.

Marcos signed Executive Order No. 110 on March 24, 2026, declaring a state of national energy emergency in light of the ongoing conflict in the Middle East, and the resulting imminent danger posed upon the availability and stability of the country’s energy supply.

To safeguard national interest by ensuring the stability of domestic energy supply, the uninterrupted delivery of essential services, the continuity of economic activity, and the welfare of all citizens, particularly vulnerable sectors, and to mitigate the impact of the conflict in the Middle East, E.O. No. 110 also adopted the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) as the government’s coordinated, whole-of-government response framework.

The UPLIFT Committee, chaired by President Marcos, was also convened to oversee and coordinate the implementation of the administration’s program.

ADB said that it 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.

The amount is on top of around $2 billion in policy-based loans being prepared for the Philippines this year, the ADB said.

ADB is also working with government agencies to protect vulnerable people and strengthen longer-term resilience, which includes advisory support to the Department of Agriculture (DA) 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.

Founded in 1966 and owned by 69 members, 50 of whom are from the region, ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific.

ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard the planet, working with its members and partners to tackle complex challenges together. Presidential News Desk