ODA-funded projects reach $39.6 billion in 2024

MANILA, Philippines — The Philippines’ active portfolio of projects funded by official development assistance (ODA) reached nearly $40 billion last year, according to the Department of Economy, Planning and Development (DEPDev).

The ODA Portfolio Review Report of the DEPDev showed that loans and grants received by the Philippines for projects increased by six percent to $39.6 billion in 2024 from $37.3 billion in 2023.

In a press conference, DEPDev Undersecretary Joseph Capuno said the 2024 ODA portfolio is the highest in a decade and covers 426 loans and grants.

ODA loans or grants support activities to promote economic development.

“These loans and grants supported a total of 403 programs and projects, which include 78 projects that were approved by the then NEDA (National Economic and Development Authority) Board,” Capuno said.

The DEPDev attributed the increase in ODA to fresh loan commitments on infrastructure.

Projects that benefitted from these loan commitments include the Laguna Lakeshore Road Network Project, the Dalton Pass East Alignment Road Project Phase I, new funding for the Bataan-Cavite Interlink Bridge Project and the Metro Manila Subway Project, as well as the Infrastructure for Safer and Resilient Schools Project.

Capuno said the infrastructure sector received the biggest share at $24.81 billion or 63 percent of the total ODA last year.

This was followed by governance and institution development with 79 loans and grants amounting to $6.36 billion or 16 percent of the total ODA.

Social reform and community development placed third with 113 loans and grants amounting to $5.36 billion.

Capuno said Japan was the biggest source of ODA as it provided $13.23 billion in active commitments, supporting 82 loans and grants last year.

The Asian Development Bank came in next with $11.05 billion, followed by the World Bank with $8.64 billion.

Capuno said that of the 45 projects tagged as problematic due to implementation issues as of end-2023, six were completed last year.

Based on the latest ODA review, DEPDev data showed that there are around 43 projects at risk, with 41 in the critical stage and two in the early warning stage.