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PIA Press Release
2010/07/21

NEDA enhances ODA review for 2009

Davao City (21 July) -- The National Economic and Development Authority (NEDA) recently released the 18th Official Development Assistance (ODA) Loans Portfolio Review Report for 2009.

The report, submitted to Congress as mandated by the ODA Act of 1996, noted the improvements done in project monitoring and evaluation including the Joint Analytical Work (JAW) exercise initiated this year by the NEDA, Asian Development Bank, Japan International Cooperation Agency (JICA), and the World Bank. Other improvements include additional subsections in the report like revised quarterly loan financial data, cost overruns and aid effectiveness initiatives.

The JAW provides a platform for joint in-depth analysis and action planning that created an action plan of several activities and recommendations for improvement of ODA loans performance.

The activities include finalizing readiness filters and strictly enforcing compliance. These aim to address start-up delays, update service standards in the processing of fund release to facilitate funds flow, and explore feasibility of risk-based guarantee fee structure, among others.

Under the ODA Act, the NEDA is tasked with conducting an annual review of the implementation of all ODA projects to improve absorptive capacity, and incorporate reporting on results.

Financial and physical performance

The financial and physical performance of total ODA loan commitment which registered at US$ 9.64 billion as of 2009 also improved.

Disbursement level increased from US$1.05 to US$2.01 billion, disbursement rate from 78 percent to 90 percent, availment rate from 81 percent to 85 percent, and disbursement ratio from 23 percent to 37 percent.

The portfolio covered 106 active loans composed of 95 project and 11 program loans. Project loans constitute 80 percent (US$7.71 billion) of the portfolio while the remaining 20 percent (US$1.93 billion) went to program loans.

Also in 2009, more projects were on schedule while fewer projects were delayed than in 2008, according to the report. The number of projects ahead or on schedule increased from 20 to 28 while delayed projects went down from 43 to 37. Average length of loan extensions also decreased from 1.8 to 1.7 years in 2009.

The report further said 12 implementing agencies were able to achieve above 70 percent of both their annual and historical financial performance targets. These agencies include the Bases Conversion and Development Authority, Department of Agrarian Reform, Development Bank of the Philippines, Department of Education, Department of Public Works and Highways, Department of Social Welfare and Development, National Irrigation Administration, National Power Corporation, Pasig River Rehabilitation Commission, Small Business Corporation, Subic Bay Metropolitan Authority, and the National Transmission Corporation.

Major recipients and sources

The infrastructure sector received the largest share of the total loans accounting for 60 percent (US$5.74 billion) in 2009 and an average of 63 percent in the past 10 years. The agriculture, agrarian reform and natural resources sector had the second largest share of 17 percent (US$1.61 billion). Both the shares of the social reform and development sector and the governance and institutions development sector were nine percent at US$ 904 million and US$909 million in 2009, respectively.

Meanwhile, the Government of Japan (GOJ) through the JICA remains the biggest source of ODA loans accounting for 36 percent (US$3.47 billion) with 30 loans. It has been the country's biggest ODA loans source in the past 10 years with an average of 53 percent of the share of total loans.

Grants

The report also covered 417 ODA grant-assisted projects consisting of 47 new, 292 ongoing and 78 completed projects within the year that is administered by 24 funding institutions. Grant amount is US$1.06 billion excluding grant assistance from the GOJ of 144 projects that comes in form of experts, equipment and studies for which equivalent monetary values can only be determined after project completion.

The social reform and community development sector was the major recipient of the ODA grants amounting to US$416 million or 39 percent of the total portfolio for 95 projects. This was followed by the governance and institutions development sector and the agriculture, agrarian reform and environmental resources sector with 32 percent or US$335 million (134 projects) and 18 percent or US$193 million, respectively.

Of the development agencies with available data on grant commitments for the period, the United States Agency for International Development (USAID) had the biggest share of grant assistance at 29 percent amounting to US$308 million with 49 projects followed by the Australian Agency for International Development (AusAID) at 17 percent amounting to US$148 million with six projects.

The cumulative utilization of the grants portfolio was US$ 693.73 million by the end of 2009 and utilization rate was 66 percent. The industry, trade and tourism, and agriculture, agrarian reform and natural resources sectors had the highest utilization rates both at 71 percent. (PIA) [top]

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