MANILA
\nThe Asian Development Bank (ADB) on Tuesday announced a financial support package to help developing member countries mitigate the economic and financial impacts of the Middle East conflict.
\nIn a statement, ADB President Masato Kanda said the lender would deliver \u201cfast-disbursing budget support and trade and supply chain finance to secure the import of essential goods, now including oil\u201d.
\n\u201cThis builds on our strong track record of supporting Asia and the Pacific through periods of global uncertainty,\u201d he added.
\nADB has ample resources to safeguard existing and planned operations, while expanding emergency support in line with DMC needs, including utilising its countercyclical lending buffer, said Kanda.
\nHe maintained that the bank is closely monitoring global market developments and their potential implications for economies across Asia and the Pacific, particularly regarding energy price volatility, inflationary pressures, and external account balances.
\nThe latest ADB analysis indicates that disruptions to shipping routes have already increased costs and delivery times, while supply risks extend beyond energy to key industrial inputs such as petrochemicals and fertilisers, with serious implications for agriculture and food production. Furthermore, the conflict is increasing uncertainty and tightening financial conditions across the region, putting pressure on currencies and capital flows.
\nThe ADB said the financial support has two main components. First, is the use of the Countercyclical Support Facility to help stabilise economies and mitigate the impact of shocks on vulnerable groups.
\nThe second is the Trade and Supply Chain Finance Program support to keep critical imports, especially energy and goods, flowing, including the temporary reactivation of oil import support.
\nThe ADB said it has started discussions with all severely affected developing member countries on possible immediate support.<\/p>\n","protected":false},"excerpt":{"rendered":"
MANILA The Asian Development Bank (ADB) on Tuesday announced a financial support package to help developing member countries mitigate the economic and financial impacts of the Middle East conflict. In a statement, ADB President Masato Kanda said the lender would deliver \u201cfast-disbursing budget support and trade and supply chain finance to secure the import of …<\/p>\n","protected":false},"author":4,"featured_media":64647,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-95338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=95338"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95338\/revisions"}],"predecessor-version":[{"id":95348,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95338\/revisions\/95348"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/64647"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=95338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=95338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=95338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}