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NEDA reports accelerated spending of ODA loans in 2017

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Socioeconomic Planning Secretary Ernesto M. Pernia -- BW FILE PHOTO

SPENDING of official development assistance (ODA) loans sped up in 2017, the National Economic and Development Authority (NEDA) said.

In a statement on Thursday, July 19, NEDA said the government has disbursed about $1.40 billion ODA loans in 2017, up 11.5% from $1.25 billion in 2016.

Disbursement rate, or the disbursement level as a percentage of the target was at 67.21% from 61.12%.

“This means implementing agencies are improving their technical capacities and making headway in resolving key issues that cause delays in the execution of programs and projects,” Socioeconomic Planning Secretary Ernesto M. Pernia was quoted in the statement as saying.

The Philippines’ total ODA portfolio reached $14.72 billion in 2017, for the full year of 2017, comprised of 352 grants worth $2.42 billion, and 70 loans amounting to $12.30 billion.

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However this was lower than the $15.60 billion ODA portfolio recorded in 2016. — Elijah Joseph C. Tubayan

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