NEDA: Foreign aid releases slightly increased in 2011

Foreign aid releases to the Philippines grew 4 percent to $1.67 billion in 2011 from $1.61 billion the previous year, the National Economic and Development Authority (NEDA) said Monday, citing a preliminary report on overseas development assistance (ODA).

“The increase in the disbursement level and ratio in 2011 is attributed to the $500-million single tranche release of the World Bank’s ‘Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option,” said Roderick M. Planta, NEDA project monitoring staff director.

Total disbursement ratio, or the percentage of actual disbursements to the net loan available during the year, went up to 30.1 percent in 2011 from the 29.5 percent reported in 2010.

Net commitments of official development assistance for 2011 amounted to $8.54 billion, from $1.07 billion in 2010, financing a total of 78 loans.

Implementing agencies of the government received less disbursements in 2011. Total ODA disbursement rate dropped from 80.2 percent to 77.6 percent. Availment rate also dropped to 75 percent in 2011 from 80 percent the previous year.

The biggest ODA funding source in 2011 is still the government of Japan, through its Japan International Cooperation Agency (JICA), accounting for 32 percent of total ODA commitments for the Philippines. JICA’s share was reported to be lower than the 36.40 percent seen in 2010.

Also, World Bank accounted for a 29.1-percent share of the funding.

China accounted for a 13.36-percent share in aid, up from the 11.87-percent reported the previous year.

The Asian Development Bank’s commitment share also went down to 8.53 percent, from 10.18 percent in 2010.