Photo credit: PCO

President Ferdinand Marcos Jr. met with Asian Development Bank (ADB) President Masato Kanda at Malacañang Palace to discuss strengthening economic cooperation amid growing global uncertainty caused by the ongoing conflict in the Middle East.

The courtesy meeting focused on programs aimed at boosting the Philippines’ economic resilience as concerns rise over the possible impact of global oil price increases, supply chain disruptions, and inflation linked to tensions in the region.

Malacañang said the meeting highlighted the shared commitment of the Philippine government and the ADB to support sustainable development, infrastructure expansion, and economic opportunities for Filipinos.

The ADB remains one of the Philippines’ biggest development partners, funding major projects involving transportation, agriculture, digital infrastructure, disaster resilience, healthcare, and climate adaptation. In recent years, the bank has provided billions of dollars in loans and grants for programs supporting economic recovery and public infrastructure modernization.

Kanda, who assumed the ADB presidency in 2025, has been pushing for stronger regional cooperation across Asia as economies face pressures from geopolitical tensions, climate-related disasters, and slowing global growth.

The meeting came as the Philippine government continues monitoring the effects of rising global fuel prices triggered by escalating tensions in the Middle East. Economic managers earlier warned that prolonged instability in the region could affect inflation, transportation costs, and food prices in the country.

Marcos has repeatedly emphasized the need to strengthen the country’s economy against external shocks while accelerating infrastructure and investment programs under his administration.

The Palace said discussions with the ADB also covered long-term development priorities aimed at creating jobs, improving public services, and helping vulnerable communities cope with economic pressures.