ODA reaches $32.40B in 2022

Philippine Tribune
Philippine Tribune

THE Philippines received $32.40 billion in loans and grants from official development assistance (ODA) last year, the National Economic and Development Authority said.

Broken down, the country obtained 106 loans totaling $30.20 billion and received 320 grants amounting to $2.20 billion from 20 development partners.

The Asian Development Bank was the lead contributor, accounting 33 percent of overall ODA.

In particular, the government received just four loans worth $1.02 billion for its Covid-19 response last year, a sharp drop from previous years when there were 25 in 2020 and 15 in 2021.

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

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He added that they are also working to get support for long-term social and economic improvements beyond the pandemic.

The bulk of last year’s foreign aid, totaling $16.07 billion, went to the infrastructure sector.

This funding was said to have supported projects under the outgoing Duterte government’s Build, Build, Build program and the Marcos government’s Build Better More initiative.

The big-ticket projects include the capacity enhancement of mass transit systems such as the Light Rail Transit Line 1 South Extension and the Cebu-Mactan Bridge and Coastal Road Construction Project.

Substantial amounts of ODA also went to 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,” Balisacan 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.

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