DOF to tap up to $1.5B in ADB support for oil shock response

Department of Finance

MANILA, Philippines – The Marcos administration is looking to tap the Asian Development Bank’s (ADB) crisis-response facility in a bid to secure additional funding for the government’s response to the economic fallout from the Middle East war, according to the Department of Finance (DOF).

Finance Secretary Frederick Go told reporters that the government plans to request up to $1.5 billion from the ADB’s Countercyclical Support Facility (CSF), a rapid-disbursing financing window designed to help countries respond to major external shocks.

READ: Agencies should hasten response to oil crisis – Bam Aquino

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