Asian Development Bank (ADB) President Masato Kanda has stated that multilateral development banks (MDBs) are intensifying cooperation to support countries affected by the growing economic consequences of the ongoing Middle East conflict and related global crises. Speaking during meetings with G7 finance ministers and central bank governors in Paris, Kanda emphasized that MDBs are working collectively to help vulnerable economies manage rising inflation, trade disruptions, energy price volatility, and broader financial pressures.
According to Kanda, the economic effects of the conflict extend far beyond the immediate region, particularly impacting Asia and the Pacific due to the region’s dependence on imported energy, fertilizers, and global supply chains. He noted that many developing countries are already facing compounding challenges from climate change, debt burdens, and slower global growth, making coordinated international financial support increasingly important.
The MDB response involves a combination of emergency financing, policy support, technical assistance, and private sector investment mechanisms aimed at protecting vulnerable populations and maintaining economic stability. ADB and other multilateral institutions have pledged to work together to strengthen resilience, support fiscal management, and help countries continue critical development investments despite worsening external conditions.
ADB has already begun offering direct support to countries experiencing severe economic strain from the crisis. For example, the bank announced its readiness to provide up to $1.75 billion in additional financing support to the Philippines to help manage rising commodity prices and economic disruptions linked to the Middle East conflict. Officials indicated that other countries in Asia and the Pacific may also require emergency assistance as the broader economic effects continue to spread.
The discussions among MDB leaders also focused on expanding institutional cooperation in areas such as climate finance, sustainable infrastructure, private capital mobilization, and long-term resilience building. ADB noted that stronger coordination among global financial institutions is necessary to address increasingly interconnected crises, including geopolitical conflicts, food insecurity, climate-related shocks, and economic instability.
Overall, the statements from ADB leadership reflect a growing international effort to strengthen multilateral cooperation in responding to global economic uncertainty. MDBs aim to ensure that countries facing external shocks receive timely financial and technical support while continuing progress toward sustainable development and economic resilience.
