THE PHILIPPINES’ active official development assistance (ODA) portfolio grew 15% to $37.29 billion in 2023 due to increased funding support for infrastructure and post-pandemic growth, the National Economic and Development Authority (NEDA) said.
In a report, NEDA said that ODA engagements include 113 active loans and 325 active grants.
Active loans last year rose 16.11% to $35.07 billion, while active grants grew 1.01% to $2.22 billion.
ODA was provided by 46 development partners and implemented by 132 agencies, NEDA said.
The Philippines receives assistance from foreign partners to help fund major infrastructure and social development needs which it cannot bankroll on its own.
Last year, the Philippines signed 30 new loan agreements amounting to $12.08 billion, including $6 billion for 13 program loans and $6.08 billion for 17 project loans.
The new program loans were meant to help restore the economy to its pre-pandemic growth track, NEDA said.
New project loans supported works like the North-South Commuter Railway System, the upgrade of the Metro Rail Transit Line 3, and the Davao Public Transport Modernization Project.
The Philippines also received 57 new grants valued at $240.53 million.
“The new grant assistance was provided by partners such as Canada, the US Agency for International Development, and Korea International Cooperation Agency,” NEDA Undersecretary Joseph J. Capuno said at a briefing.
For the first time in years, the Indian government provided around $500 million last year to assist local government units build up an internal project development capacity, NEDA added.
Japan remained the country’s top source of ODA last year with a total portfolio of $12.07 billion, accounting for 32.36% of the total.
This was followed by the Asian Development Bank at $11.43 billion (30.65% of the total), World Bank at $8.19 billion (21.95%), and the Asian Infrastructure Investment Bank at $1.7 billion (4.57%).
Other ODA sources include the China Export-Import Bank ($1.16 billion or 3.12% of the total) and other institutions ($2.74 billion or 7.34%).
Infrastructure received the largest share of ODA this year valued at $20.36 billion (54.59% of the total). This was followed by governance and institutional development at $6.88 billion (18.46%).
Agriculture, agrarian reform, and natural resources received ODA amounting to $4.16 billion (11.16%), social reform and community development got $5.59 billion (15%), and industry, trade and tourism received $290 million (0.79%).
The National Capital Region received the most ODA at $4.5 billion (42.25%), followed by Mindanao ($2.69 billion or 25.21%), Luzon ($1.93 billion or 18.13%), and the Visayas ($1.53 billion or 14.41%).
The largest ODA-funded projects last year were the NSCR Malolos Tutuban, Clark Extension, and Tutuban Laguna ($8.37 billion combined), Metro Manila Subway Project Phase I ($2.42 billion), Bataan-Cavite Interlink Bridge ($650 million), Panay-Guimaras-Negros Island Bridges Project ($56.61 million), PNR South Long Hail Project ($219.78 million), Cebu-Mactan Bridge and Coastal Road Construction Project ($807.03 million), and the Davao Public Transport Modernization Project ($1.07 billion).
Last year, disbursement of ODA loans rose 27% to $15.8 billion, NEDA said. — Beatriz Marie D. Cruz
