Japan's loans and grants to the Philippines in the first 3 quarters of 2018 reached $5.98 billion or more than 40% of the total Official Development Assistance received by the Philippines during the period
MANILA, Philippines – Japan remained as the Philippines’ biggest source of official development assistance (ODA) as of the third quarter of 2018, the National Economic and Development Authority (NEDA) said on Friday, December 28.
The World Bank followed Japan with total loans and grants of $3.13 billion, while the Asian Development Bank came in third with $2.24 billion. Assistance extended by the United States amounted to $807 million (5.56%) and Korea with $660 million in loans and grants.
Socioeconomic Planning Secretary Ernesto Pernia expressed gratitude towards foreign partners, and noted that the government must ensure the positive impact of the projects for Filipinos.
“As we assess 2018, we look at our development partners full of appreciation and gratitude. They have been constantly beside us in our efforts to pursue much-needed reforms, and both social and physical infrastructures to reach our goals,” he said.