The Asian Development Bank (ADB) on Wednesday announced a financial support package to help its developing member countries mitigate the economic and financial impacts resulting from the conflict in West Asia.

“ADB will deliver rapid, flexible, and scalable assistance to help countries manage immediate pressures and strengthen long-term resilience, notably fast-disbursing budget support and trade and supply chain finance to secure the import of essential goods, now including oil,” said ADB President Masato Kanda. “This builds on our strong track record of supporting Asia and the Pacific through periods of global uncertainty.”

ADB said it has ample resources to safeguard existing and planned operations, while expanding emergency support in line with the needs, including utilising its countercyclical lending buffer.

The bank said it 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.

The 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.

Tourism- and remittance-dependent economies face compounding vulnerabilities beyond these initial shocks. Furthermore, the conflict is increasing uncertainty and tightening financial conditions across the region, putting pressure on currencies and capital flows.

ADB said it is ready to deploy timely financial and technical support to help developing member countries manage risks, maintain macroeconomic stability, and protect vulnerable populations. There are two main components to ADB’s intervention. The first is fast-disbursing budget support to help developing member countries facing heightened fiscal pressures, notably the use of 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, which supports the private sector to ensure critical imports, including energy and food, continue to flow. The bank has decided to reactivate support for oil imports under the program on an exceptional basis for this limited period.