In terms of project loans, the Philippines registered a dismal 12-percent availment ratio compared to an average 20.5 percent for the region last year. In 2000, the country registered its worst year in terms of ODA disbursements with a dismal eight percent availment record for both project loans and overall lending.
On the other hand, the People's Republic of China registered an impressive 20-percent availment ratio in the past 10 years while Bangladesh was even more impressive with a 22-percent ratio.
"It was really a losing record in 2000 and 2001," said Richard S. Ondrik, chief officer of the ADB Philippine country office.
Ondrik said the Philippines had a 10-year backlog, which had been reduced somewhat last year. "The backlog is now down to eight years."
Tom Crouch, ADB country director for the Philippines, said that they are looking to reduce it further by another two years "with the help and cooperation of the client nation or the Philippine government."