THE Philippine government has tapped 236.64 billion Japanese yen, or approximately US$1.5 billion, in emergency financing assistance from the Asian Development Bank (ADB) to support Filipino commuters, vulnerable sectors and overseas Filipino workers (OFWs) amid the ongoing situation in the Middle East.
The Department of Finance (DOF) on Tuesday, Oct. 20, 2026, said the financing will provide budgetary support for the government’s response to economic shocks and oil supply disruptions arising from the crisis.
DOF Secretary Frederick Go formally signed the financing agreement for the Assistance for Greater Resilience and Alleviation of Poverty on Oct. 6.
The DOF said the funding will shore up the government’s Unified Package for Livelihoods, Industry, Food and Transport, which covers measures to ensure enough fuel and electricity supply while helping keep public and commercial transport reasonably priced.
The same program provides targeted financial assistance to vulnerable groups and supports the repatriation and reintegration of OFWs affected by the conflict.
“These interventions aim to ease pressure on household budgets, sustain livelihoods and protect vulnerable Filipinos from the effects of global economic disruptions,” the DOF said.
The ADB financing is part of the government’s external financing program for 2026 to ensure the Philippines’ economic resilience and that resources are available for priority interventions. / PNA