ODA disbursements slow down in 2012
MANILA, Philippines - The government's disbursement of Official Development Assistance (ODA) program and project loans has declined in 2012, according to data obtained from the National Economic and Development Authority (NEDA).
In the report, the NEDA said the government's disbursement performance slowed to 62.89% in 2012. This was a 16.61 percentage point decline from the 79.5% in 2011.
The NEDA said the disbursement rate is defined as the loan amount’s level of disbursement against the annual target. The targets vary per project.
"Except China-funded loans, disbursement rates of other remaining DPs (Development Partners) declined in CY (Calendar Year) 2012 in comparison with disbursement rates registered last year," NEDA said.
The decrease in actual disbursement for project loans was lower at 49.18% in 2012, around 18.94 percentage points lower than the 68.12% in 2011.
The disbursement level in the January to December 2012 period, the NEDA said, is at $1.2 billion, a $674.1 million decline from the $1.8 billion posted in the same period in 2011.
Bulk of these disbursements were made for project loans worth $582.12 million in 2012, a $215.22 million decline from the $797.34 million in 2011.
The NEDA said the total ODA commitments of DPs to the Philippines plunged to $8.52 billion in the fourth quarter of 2012.
This was $304.96 million lower than the $8.83 billion posted in the third quarter of 2012. It was also $76.22 million lower than the $9.28 billion in the same period in 2011.
The total ODA commitments consist of 80 loans, 71 of which are project loans amounting to $7.288 billion and 9 program loans amounting to $1.235 billion.
The Philippines' biggest source of ODA is Japan through the Japan International Cooperation Agency (JICA) which accounted for 34% of total ODA commitments.
This was followed by the World Bank which amounted to 23%; China, 16%; and the Asian Development Bank (ADB), 10%.
Other sources, which accounted for 17% of the total, include ODA from:
- International Fund for Agricultural Development (IFAD)
- OPEC Fund for International Development (OFID)
- Saudia Arabia