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||17 August 2009
ODA loans in Philippines up 96% in H1
Phillipines’ official development assistance (ODA) disbursements increased by 96 percent to $8.07 billion in the first six months of 2009, according to the ODA Loan Performance Report released by the National Economic and Development Authority (Neda).
The Neda said that in the first semester of 2009 the total cumulative ODA loans increased by $826.59 million from around $7.243 billion in the same period in 2008. Data also showed that the ODA in the first semester financed 91 loans. The disbursement level is the actual amount of disbursements from all ODA loans.
“The significant increase in disbursements was largely attributed to the single tranche release of two programme loans of $150 million and $200 million funded by the Asian Development Bank and World Bank, respectively,” the Neda said in a statement.
The Neda also said there was a general increase in all major financial indicators of ODA absorptive capacity. The disbursement rate, which is the percentage of actual disbursements over target disbursement, increased to 86 percent in the first six months of 2009 from 80 percent during the same period last year.
The biggest donor of ODA is the Government of Japan-Japan International Cooperation Agency (GOJ-Jica) with a share of 38 percent of total ODA commitments. Jica was followed by the World Bank with 18 percent, the Asian Development Bank (ADB) with 15 percent, and the government of China with 12 percent. Other donors accounted for 17 percent of total ODA.
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