‘22 ODA loans reach $32.4B

The Philippines received more official development assistance, or ODA, loans and grants in 2022 to address the socioeconomic scarring brought about by the Covid-19 pandemic, the National Economic and Development Authority said.

In its 2022 ODA Portfolio Review released on Tuesday, NEDA recorded $32.40 billion in active ODA loans and grants to the Philippines in 2022, up 0.50 percent from $32.24 billion in 2021.

The country acquired 106 loans totaling $30.20 billion and 320 grants equivalent to $2.20 billion in 2022.

The funds came from 20 development partners, with the Asian Development Bank making the most significant contribution, accounting for 33 percent of the total ODA in the country.

Moreover, the government received only four program loans (amounting to $1.02 billion) for Covid-19 response and recovery in 2022, a downtrend from the 25 Covid-19 loans in 2020 and 15 in 2021.

"The significant reduction in ODA devoted to addressing the damage wrought by Covid-19 reflects the country's transition towards the new normal, and it is now focusing on achieving growth in the post-pandemic world," NEDA Secretary Arsenio Balisacan said.

The nation's premier socioeconomic planning body noted that the infrastructure sector received most of the ODA in 2022, with its share amounting to $16.07 billion.

The investments in the sector supported the "Build, Build, Build" infrastructure program of the Duterte administration, which the current Marcos administration is continuing through the "Build-Better-More" program.