Sri Lanka, July 30 -- The Asian Development Bank (ADB) is set to deploy $450 million to protect poor households and strengthen the economies of Cambodia and Sri Lanka as the conflict in the Middle East drives up costs and deepens uncertainty across Asia and the Pacific.

"No family should be pushed deeper into poverty by a conflict thousands of kilometers away," said ADB President Masato Kanda. "We are moving quickly to protect more than 1 million struggling households in Cambodia while helping Sri Lanka create jobs, attract investment, and expand trade. These investments will help both countries withstand today's pressures and emerge stronger from the next shock."

The package combines immediate crisis support with longer-term economic r...