Issue of January 6, 2019
     
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Japan remains top ODA source in 2018
by NEDA release

Japan remained the top provider of Official Development Assistance (ODA) to the Philippines, the National Economic and Development Authority reported.

Japan’s loans and grants stood at $5.98 billion, accounting for 41.20 percent of the country’s total active ODA portfolio.

It was followed by the World Bank with $3.13B (21.56 percent) and the Asian Development Bank with $2.24B (15.44 percent).

In fourth place is the United States of America with total active ODA amounting to $807M (5.56 percent). It was followed by Korea with $660M in loans and grants (4.55 percent).

Other ODA providers 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 commitment of the country’s active ODA portfolio as of September 2018, based on the data generated in December 2018, reached $14.5B, with total grants amounting to $2.22B and total loans amounting to $12.28B.

One of the notable 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.

The governments of the Philippines and Japan signed the P50-B loan agreement for the Metro Manila Subway Project on March 16, 2018. The project is expected to break ground January this year.

“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,” NEDA Sec. Ernesto M. Pernia said.

Pernia noted that the government, for its part, must take the lead in ensuring that these projects will create lasting change in the lives of Filipino people.

 
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BUSINESS
Mayor thanks taxpayers for promptly paying their dues

Sagada partners w/ private inns, homestays in info dissemination

Cordillera fish production up by 12 percent via aquaculture

PDIC raises P72.1 M from sale of assets thru public bidding

DOE to oil players: 2nd tranche of excise not for 2018 oil stocks

Furniture makers eye local, high-end niche markets abroad

FEF backs property valuation reforms

Unemployment rate down by 4 percent – PSA 2018 report

EU limits use of 33 harmful substances in textile trade

MSMEs told to explore global halal market

Logistics players seek review of accreditation requirements

Solar panels owners told to follow rules to ensure safety


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