THE PHILIPPINES received $5.67 billion worth of offofficial development assistance (ODA) this year, which was applied to large amounts flAgship infrastructure projects, the Department of Finance (DoF) said.
In a statement on Monday, the DoF said the ODA came from 12 financing agreements supporting infrastructure, transportation, defense, digital technology, healthcare and agriculture projects.
“This includes the third tranche of financing for the Metro Manila Subway Project (Phase 1), the country’s first-ever underground railway system,” the report said.
In addition, financing agreements have been signed for the Dalton Pass East Alignment Alternative Road Project; first tranche financing for the Bataan-Cavite Interlink Bridge; and for the Samar Pacific Coastal Road II project.
Other ODA-funded work includes the 37.5-kilometer Laguna Lakeshore Road Network, the New Dumaguete Airport, the Phase III Maritime Safety Enhancement Project and the Infrastructure for Safer and Resilient Schools project.
Others were the first and second digital transformation programmes, the second sustainable recovery programme; the Construction of Universal Healthcare Subprogram 2; the Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities project; and the sub-programme Action on Climate Change 2.
The DoF said the Philippines also received $73.73 million in grants from bilateral and development partners for 13 projects in infrastructure, peace and development, climate adaptation and mitigation, water security and artificial intelligence.
The report states that the “prudent” debt management strategy resulted in a funding mix of 77:23 in favor of domestic borrowing at the end of November.
“Debt remains manageable at 61.3% of GDP as of the third quarter of 2024,” the report said. — Aubrey Rose A. Inosante