"We have spent 95 percent of the scheduled loan disbursement for January to September on projects," Neri said.
Neri said the donor community commended the efforts of the Philippine government for improving the country’s ODA performance during a donor’s consultative meeting last month.
Disbursement rate is a proxy indicator for physical accomplishment of a project.
The country’s chief economic planner said the improved ODA performance was a result of the government’s efforts to clean up the ODA portfolio and remove bottlenecks in project implementation. These measures include the focus on results and outcomes of the projects and their impact on poverty alleviation and regional development, conduct of cost efficiency review or all projects and the adoption of appropriate strategies such as domestic technologies, skills and services.
Neri said the government welcomes the lower level of new ODA commitments since it is consistent with the country’s fiscal program. The donor community, which comprises developed countries and multilateral agencies such as the Asian development Bank, the Japan Bank for International Cooperation and the World Bank, pledged $2 billion in loans and grants compared to the previous $2.2 billion.
Neri said current ODA levels are in line with the government’s fiscal program. "It would be pointless to seek high ODA commitments considering our fiscal limitations. Besides, we have to consider our preparedness to implement these ODA-funded projects," he said. "It would be very costly as we have to pay commitment fees," he added.