Benise Balaoing

Taxi drivers line up at the Land Transportation Office in Quezon City to receive their fuel subsidy on April 24, 2026. The program, which provides a ₱5,000 one-time cash subsidy to drivers of public utility vehicles to augment the cost of gas, serves as a stopgap measure to prevent fare hikes that may add a burden to the commuting public.

Article (news)

FUEL SUBSIDY-TAXI DRIVERS

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px;display:block" width="960"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177882514760820260424-lto-fuel-subisdy-taxi-drivers-JC1924.jpg" style="width:960px" class="fr-fic fr-dib" width="960"/><span class="fr-inner" style="text-align:left">Taxi drivers line up at the Land Transportation Office in Quezon City to receive their fuel subsidy on April 24, 2026. The program, which provides a ₱5,000 one-time cash subsidy to drivers of public utility vehicles to augment the cost of gas, serves as a stopgap measure to prevent fare hikes that may add a burden to the commuting public. Jonathan Cellona, ABS-CBN News</span></span></span></div><p>MANILA -- The Asian Development Bank (ADB) is offering the Philippines a $1.75 billion loan to help Filipinos amid rising food and fuel prices. </p><p>In a statement, the ADB said it is offering to help the government manage fiscal pressures through more policy-based and countercyclical lending of up to $1.75 billion.</p><p>This is on top of around $2 billion in policy-based loans being prepared for the Philippines this year, the ADB said.</p><p>The offer was made when ADB President Masato Kanda met Philippine President Ferdinand Marcos Jr. at Malacañang.</p><p>“The Philippines is ADB’s home, and we see the strain this crisis is placing on Filipino families, workers, and businesses,” Kanda said. “ADB will act swiftly to support the government to protect vulnerable communities, manage fiscal pressures, and strengthen the economy’s resilience.&quot;</p><div><a href="https://www.abs-cbn.com/news/business/2026/4/24/ph-one-of-hardest-hit-by-oil-price-shocks-but-can-bounce-back-bsp-1726" rel="noopener noreferrer" target="_blank">Philippines one of &#x27;hardest hit&#x27; by oil price shocks but can bounce back: BSP</a></div><p>The ADB in April cut the economic growth forecast for the Philippines to <a href="https://www.abs-cbn.com/news/business/2026/4/10/adb-cuts-philippines-growth-outlook-due-to-mideast-war-1358" rel="noopener noreferrer" target="_blank">4.4 percent</a> for 2026, from its 5.3 percent outlook in December.  </p><p>It also raised the inflation outlook to 4 percent, as oil price hikes hurt the prices of food and other commodities.</p><p>The Philippines&#x27; inflation rate quickened to <a href="https://www.abs-cbn.com/news/business/2026/5/5/inflation-quickens-to-7-2-percent-in-april-0906" rel="noopener noreferrer" target="_blank">7.2 percent</a> in April as food and fuel costs surged.</p><div><a href="https://www.abs-cbn.com/news/business/2026/5/15/gasoline-diesel-prices-seen-going-up-next-week-1314" rel="noopener noreferrer" target="_blank">Gasoline, diesel prices seen going up next week</a></div><div><strong>RELATED VIDEO:</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/HWeIhNhiNlI?&amp;t=2s&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>The ADB is offering the Philippines a $1.75 billion loan to help Filipinos amid rising food and fuel prices.</p>

The ADB is offering the Philippines a $1.75 billion loan to help Filipinos amid rising food and fuel prices.

ADB offers $1.75 billion in crisis support loan for PH

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ADB offers $1.75 billion in crisis support loan for PH

Benise Balaoing,

ABS-CBN News

Published May 15, 2026 02:59 PM PHT

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