The Government of the Philippines will use USD1.5 billion in financing from the Asian Development Bank (ADB) to support government measures addressing the economic impact of the Middle East crisis. The funding will support the Assistance for Greater Resilience and Alleviation of Poverty (AGAPAY) program, which finances interventions under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT). The ADB approved the financing on September 24, 2026, through its Countercyclical Support Facility.
The package will fund targeted household assistance, fuel and electricity subsidies, agricultural support, transport aid and assistance for repatriated overseas Filipino workers (OFWs). The financing aims to help protect vulnerable households and businesses from rising prices and supply disruptions, while supporting access to essential goods and services. The ADB cited the Philippines’ reliance on oil and fertiliser imports from the Middle East and the region’s importance as a destination for Filipino workers as factors increasing the country’s exposure to the crisis.