Asian Development Bank has pledged up to $1.75 billion, or roughly P100 billion, in additional financing support to help the Philippines manage the economic impact of the ongoing Middle East conflict.

The commitment was discussed during a courtesy meeting between Masato Kanda and Ferdinand Marcos Jr. at Malacañang on Friday.

Kanda said the Philippines, which hosts the ADB headquarters, remains a priority for the multilateral bank as rising global tensions continue to strain Filipino households, 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.

According to the ADB chief, the support package may include additional policy-based and countercyclical lending, as well as trade financing assistance if needed, to help cushion the country from oil supply disruptions and broader economic shocks.

The proposed assistance is on top of approximately $2 billion in policy-based loans already being prepared for the Philippines this year.

ADB said its support strategy includes strengthening human development, infrastructure, disaster resilience, climate readiness, energy security, and social protection systems.

The bank is also coordinating with agencies such as the Department of Agriculture and the Department of Social Welfare and Development on fertilizer security and social protection programs.

The Philippines has been heavily affected by the Middle East conflict due to its reliance on imported oil, fertilizers, and other commodities.

In response, President Marcos earlier signed Executive Order No. 110 declaring a state of national energy emergency and adopting the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) framework to mitigate the impact of the crisis.