Finance Secretary Frederick D. Go signed the JPY236.64-billion financing agreement on Oct. 6, 2026, under the Assistance for Greater Resilience and Alleviation of Poverty (AGAPAY) program.
The financing will provide budgetary support for government interventions addressing rising economic pressures and potential oil supply disruptions linked to the conflict.
Priority assistance
The funds will support the government's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), which covers measures to stabilize fuel and electricity supplies and help keep public and commercial transportation affordable.
The program also includes targeted financial assistance for vulnerable sectors and support for the repatriation and reintegration of OFWs affected by the conflict.
These interventions aim to protect household purchasing power, sustain livelihoods and mitigate the effects of external economic shocks.
Economic resilience
“AGAPAY will help the government sustain its response to the economic impact of the Middle East crisis and fund measures that support vulnerable sectors, protect livelihoods, and help Filipino families cope with these challenges,” Go said.
The ADB financing forms part of the government's 2026 external financing program, providing additional resources for priority interventions while strengthening the country's capacity to respond to global economic uncertainties. —Ed: Corrie S. Narisma
