ODA DISBURSEMENTS RISE TO US$1.67 BILLION IN 2011
MANILA—Total Official Development Assistance (ODA) disbursements in 2011 reached US$1.67 billion, higher by 4 percent than the US$1.61 billion for the same period of the previous year, according to a preliminary report on 2011 ODA loans performance by the National Economic and Development Authority (NEDA).
“The increase in the disbursement level and ratio in 2011 are attributed to the US$500 million single tranche release of the World Bank-assisted ‘Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option (CAT-DDO),” NEDA Project Monitoring Staff (PMS) Director Roderick M. Planta said.
Total disbursement ratio, the percentage of actual disbursements to the net loan available during the year, went up to 30.1 percent in 2011 from 29.5 percent in 2010.
Meanwhile, total ODA loan net commitment for 2011 amounted to US$8.54 billion, an increase of U$0.12 billion from the third quarter of the same year even though it went down by US$1.07 billion from 2010.
This amount financed a total of 78 loans, consisting of US$6.99 billion (82%) for 70 project loans and US$1.54 billion (18%) for 8 program loans. Of this total, 13 loans worth US$0.97 billion were closed while 61 loans worth US$6.56 billion are ongoing. Also, a US$0.50-billion program loan became effective in the fourth quarter, two project loans worth US$0.51 billion are yet to be made effective and one project loan worth US$0.40 billion was cancelled.
Government implementing agencies achieved an average of 78 percent of their target disbursements in 2011, around 3.0 percent lower than the rate in 2010. Total ODA disbursement rate dropped from 80.2 percent to 77.6 percent. Availment rate, on the other hand, reached 75 percent in 2011 from 80 percent in the previous year.
“There are 18 ongoing project loans that have disbursement rates below 50 percent due to procurement, financial, and other several issues. But if we compare the total number of project loans with low disbursements with that of the previous year, it remains the same,” Planta explained.
The biggest ODA funding source as of 2011 is still the Government of Japan-Japan International Cooperation Agency (GOJ-JICA), having a share of 32 percent of total ODA commitment but went down from their 36.40 percent share in 2010. The GOJ-JICA was followed by the World Bank with a 29.1 percent share and other funding sources with a 16.98-percent share.
China was the fourth biggest source, with a 13.36-percent share as of 2011, up from their 11.87-percent share in 2012. The Asian Development Bank’s commitment share went down to 8.53 percent as of 2011 from 10.18 percent in 2010.
MR No. 2012-015
, March 5, 2012
