THE ASIAN Development Bank (ADB) has offered the Philippine government up to $1.75 billion in additional financing support to help it manage the economic impact of the Middle East conflict.
ADB President Masato Kanda met with President Ferdinand R. Marcos, Jr. at the Malacañan Palace and said the multilateral lender is ready to provide more funding as the country grapples with the fallout from the war, it said in a statement on Friday.
“The Philippines is ADB’s home, and we see the strain this crisis is placing on Filipino families, workers, and businesses,” Mr. Kanda said. “ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience.”
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
