Japan remains top ODA partner for Philippines

MANILA, Philippines — The Japanese government remained the top provider of official development assistance to the Philippines as of September this year, the National Economic and Development Authority (NEDA) reported yesterday.

Loans and grants coursed through the office of its ODA agency stood at $5.98 billion, accounting for 41 percent of the country’s active ODA portfolio. 

It was followed by the World Bank with $3.13 billion (21.56 percent) and the Asian Development Bank with $2.24 billion (15.44 percent), US with total active ODA amounting to $807 million (5.56 percent) and Korea with $660 million in loans and grants (4.55 percent).

Other providers of ODA to the country are: Australia, United Nations System, Asian Infrastructure Investment Bank (AIIB), France, EU, China, Germany, OPEC Fund for International Development (OFID), Italy, Canada, Spain, and New Zealand.

  The total net commitments in the country’s active ODA portfolio as of September 2018 reached $14.5 billion, with total grants amounting to $2.22 billion and total loans at $12.28 billion.

Among the big-ticket projects financed by Japan is the first phase of the Metro Manila Subway Project which comprises the construction of a 25.3-kilometer subway. 

The subway will run from Mindanao Avenue in Quezon City to FTI in Taguig, with an extension to the Ninoy Aquino International Airport.

A P50-billion loan agreement was signed between the Philippines and Japan for the subway project last March 16. The project is expected to break ground in January 2019.

“As we assess 2018, we look at our development partners full of appreciation and gratitude. They have been constantly beside us in our efforts to pursue much-needed reforms, and both social and physical infrastructures to reach our goals,” said Socioeconomic Planning Secretary Ernesto Pernia.