ODA hits $8.83-B as of Q3 2012

ABS-CBN News

Posted at Jan 11 2013 02:18 PM | Updated as of Jan 12 2013 02:57 AM

MANILA, Philippines - Total foreign aid releases to the Philippines rose to $8.83 billion as of the third quarter of 2012, $410.74 million above the commitments in the same period in 2011.

In a statement, the National Economic and Development Authority said the total official development assistance (ODA) as of September last year consisted of 74 loans.

Only $496.58 million have been disbursed from the total amount as of the ninth month of 2012, below the $942.98 million spent in the same period in 2011.

Bulk of the commitments came from the Government of Japan's Japan International Cooperation Agency at $3.24 billion, followed by those that came from other development partners such as Austria, France, Germany, International Fund for Agricultural Development, Korea, Netherlands, OPEC Fund for International Development, Saudi Arabia, and Spain at $1.84 billion.

The World Bank had the third highest share of commitments with $1.56 billion, followed by China with $1.11 billion, and the Asian Development Bank at $1.08 billion.