ADB commits $1.75B in crisis support for PH amid Middle East conflict

The Asian Development Bank (ADB) has committed $1.75 billion to help the Philippines mitigate the economic impact of the Middle East conflict. ADB is prepared to offer policy-based and countercyclical lending, as well as trade finance, to assist the Philippines in managing fiscal pressures and strengthening its economy. The bank will also coordinate on long-term resilience measures, including energy security and food security.