THE PHILIPPINES obtained $5.67 billion worth of official development assistance (ODA) this year, which it applied to big-ticket flagship infrastructure projects, the Department of Finance (DoF) said.
In a statement on Monday, the DoF said the ODA was sourced from 12 financing agreements to support infrastructure, transport, defense, digital technology, health, and agriculture projects.
“These include the third tranche of financing for the Metro Manila Subway Project (Phase 1), which is the country’s first-ever underground railway system,” it said.
In addition, financing agreements were 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-financed works include the 37.5-kilometer Laguna Lakeshore Road Network, the New Dumaguete Airport, the Maritime Safety Capability Improvement Phase III project, and the Infrastructure for Safer and Resilient Schools project.
Others were the First and Second Digital Transformation Program, Second Sustainable Recovery Program; the Build Universal Health Care Subprogram 2; the Value Chain Innovation for Sustainable Transformation in Agrarian Reform Communities project; and the Climate Change Action Subprogram 2.
The DoF said the Philippines also obtained $73.73 million worth of grants from bilateral and development partners for 13 infrastructure, peace and development, climate adaptation and mitigation, water security, and artificial intelligence, projects.
It said “prudent” debt management strategy has resulted in a financing mix of 77:23 in favor of domestic borrowings as of the end of November.
“The debt remains manageable at 61.3% of GDP as of the third quarter of 2024,” it said. — Aubrey Rose A. Inosante