The Asian Development Bank (ADB) has approved a USD1.5 billion financing package for the Philippines to support vulnerable households and maintain essential public services amid higher fuel, food and transport costs. The funding will support the government’s Unified Package for Livelihoods, Industry, Food, and Transport through the ADB’s Countercyclical Support Facility.
The package includes measures such as fare discounts, fuel and fertiliser assistance, subsidies for provincial and small electric cooperatives, and support for public transport operators and drivers. The financing forms part of the ADB’s wider regional response to economic pressures linked to the Middle East conflict, with the Philippines package focused on maintaining essential services and supporting affected households and transport-sector workers.