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Manila Bulletin devider Business devider PH's ODA portfolio climbs to $32-B

PH's ODA portfolio climbs to $32-B

Published Oct 3, 2023 02:19 am

At A Glance

  • The National Economic and Development Authority (NEDA) reports that $32.40 billion worth of concessional loans and grants were granted to the government in 2022, most were allocated to infrastructure programs.<br>The country received 106 loans amounting to $30.20 billion and 320 grants equivalent to $2.20 billion.<br>The infrastructure sector received most of the Official Development Assistance (ODA) in 2022, with around $16.07 billion.<br>NEDA says that the country received only four program loans ($1.02 billion) for COVID-19 pandemic response and recovery in 2022, but this is mainly due to the country's transition to new normal.

The government received about $32.40 billion in concessional loans and grants last year, with most of the funds allocated to infrastructure projects, the National Economic and Development Authority (NEDA) reported.

Based on NEDA's Official Development Assistance (ODA) Portfolio Review 2022 report, the country received 106 loans amounting to $30.20 billion and 320 grants equivalent to $2.20 billion a year earlier.

These funds came from 20 development partners, with the Asian Development Bank (ADB) making the largest contribution accounting for 33 percent of the total ODA in the country, NEDA said.

The active ODA portfolio in 2022 registered a slight 0.5 percent increase from $32.24 billion in 2021.

The infrastructure sector received most of the ODA in 2022, amassing around $16.07 billion.

The investments in this sector supported the "Build-Build-Build" program of the Duterte administration, which the current Marcos administration continues through its "Build-Better-More" infrastructure initiative.

The projects in this program include the Capacity Enhancement of Mass Transit Systems in Metro Manila LRT Line 1 South Extension; Cebu-Mactan Bridge and Coastal Road Construction Project; and the Second Health System Enhancement to Address and Limit Covid-19.

Meanwhile, the government received only four program loans ($1.02 billion) for Covid-19 pandemic response and recovery in 2022.

This represents a downtick in the number of loans dedicated to addressing the impacts of the pandemic compared to previous years when the pandemic was most active, with 2020 having 25 and 2021 with 15 Covid-19 loans.

“The significant reduction in ODA devoted to addressing damages brought by Covid-19 reflects the country’s transition towards the new normal and is now focusing on achieving growth in the post-pandemic world,” NEDA Secretary Arsenio M. Balisacan said.

Further, the following sectors were granted a share from ODA: Governance and Institutions Development ($7.16 billion); Social Reform and Community Development ($6.14 billion); Agriculture, Agrarian Reform, and Natural Resources ($2.66 billion); and Industry, Trade and Tourism ($0.37 billion).

“In line with the goal of enabling sustainable growth and significantly reducing poverty, the ODA acquired in 2022 underscores the government’s continued emphasis on developing robust infrastructure, fostering good governance, promoting social reforms, enhancing agriculture and natural resources, and driving industry, trade, and tourism for comprehensive and sustainable development,” the socioeconomic planning body chief said.

“Ultimately, the government’s continuous efforts to maximize the benefits of foreign assistance will pave the way to the country’s transition to an upper middle-income economy,” he added.

Related Tags

Official Development Assistance National Economic and Development Authority (NEDA)
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