KUALA LUMPUR, March 24 — The Asian Development Bank (ADB) has rolled out a financial support package to help its developing member countries (DMCs) mitigate the economic and financial impacts from the conflict in West Asia.
ADB said the first component of the package is fast-disbursing budget support to help DMCs facing heightened fiscal pressures, notably through the bank’s Countercyclical Support Facility to help governments stabilise their economies and mitigate the impact of shocks on the lives and livelihoods of those most at risk.
“The second is ADB’s Trade and Supply Chain Finance Programme (TSCFP), which supports the private sector to ensure critical imports, including energy and food, continue to flow,” it said.
The bank has also decided to reactivate support for oil imports under the TSCFP on an exceptional basis for this limited period.
“This decision acknowledges that economies and people across the region are being severely affected by the rapid surge in oil prices and supply chain disruptions,” it said.
ADB president Masato Kanda said the bank will deliver rapid, flexible, and scalable aid to help countries manage immediate pressures and strengthen long-term resilience.
“This builds on our strong track record of supporting Asia and the Pacific through periods of global uncertainty,” he said.
ADB said it has ample resources to safeguard existing and planned operations while expanding emergency support in line with DMC needs, including utilising its countercyclical lending buffer.
