Japan still PH’s top devt partner
Credit to Author: MAYVELIN U. CARABALLO, TMT| Date: Fri, 28 Dec 2018 16:13:48 +0000
Japan remains the Philippines’ top development partner, the government reported on Friday, accounting for the bulk of ongoing official development assistance (ODA) loans as of the first nine months of the year.
In a statement, the National Economic and Development Authority (NEDA) said the total net commitment of the country’s active ODA portfolio amounted to $14.507 billion as of end-September, with total grants at $2.224 billion and total loans at $12.282 billion.
Comparative 2017 figures were not provided.
Loans from Japan, administered through the Japan International Cooperation Agency, accounted for 41.2 percent or $5.976 billion of the ODA portfolio.
The NEDA said one notable project financed by Japan was the first phase of the Metro Manila Subway. Tokyo and Manila inked a P50-billion loan agreement in March and the project is expected to break ground in January 2019.
Following Japan, meanwhile, was the World Bank with $3.127 billion and the Asian Development Bank with $2.240 billion.
In fourth place was the United States of America with total active ODA amounting to $806.76 million. Rounding out the top five was South Korea with $659.73 million.
Other ODA providers include Australia, the United Nations system, Asian Infrastructure Investment Bank, France, the European Union, China, Germany, Fund for International Development, Italy, Canada, Spain and New Zealand.
“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,” Socioeconomic Planning Secretary Ernesto Pernia said in the statement.
Pernia urged the government to take the lead in ensuring that these projects create lasting change in the lives of the Filipino people.
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