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MANILA, Philippines – Japan remained as the Philippines’ biggest source of official development assistance (ODA) as of the third quarter of 2018, the National Economic and Development Authority (NEDA) said on Friday, December 28.
Loans and grants provided by Japan to the Philippines amounted to $5.98 billion as more projects have been agreed upon by the two countries earlier this year. This accounts for 41.2% of the $14.5 billion total net commitment of active ODA received by the Philippines. (READ: FAST FACTS: PH-Japan relations through good and bad times)
One of the major projects includes the 25.3-kilometer Metro Manila Subway. It will run from Mindanao Avenue in Quezon City to FTI in Taguig, with an extension to the Ninoy Aquino International Airport.
Japan loaned P50 billion for the project.
The World Bank followed Japan with total loans and grants of $3.13 billion, while the Asian Development Bank came in third with $2.24 billion. Assistance extended by the United States amounted to $807 million (5.56%) and Korea with $660 million in loans and grants.
Socioeconomic Planning Secretary Ernesto Pernia expressed gratitude towards foreign partners, and noted that the government must ensure the positive impact of the projects for Filipinos.
“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,” he said.
Other ODA providers recognized were Australia, the United Nations System, the Asian Infrastructure Investment Bank, France, the European Union, China, Germany, OPEC Fund for International Development, Italy, Canada, Spain, and New Zealand.– Rappler.com