Philippines loans hit $11.3B in 4th quarter

THE Philippine loans to finance its huge projects and programs have surged to $11.29 billion in the fourth quarter of last year, the National Economic and Development Authority (Neda) said Sunday.

"The overall net commitment for ODA (official development assistance)-assisted projects and programs registered an increase of US$3.18 billion in fourth quarter of 2014. This was from US$8.11 billion in last quarter of 2013 to US$11.29 billion," Neda said in a statement.

The said net commitment consists of 13 program loans amounting to US$4.09 billion and 62 project loans amounting to US$7.21 billion, with the infrastructure sector having the largest share of about 40.2 percent, the agency said.

The country's biggest source of loans was the World Bank, with a 39.5-percent share amounting to US$4.46 billion.

This was followed by the Japan International Cooperation Agency with US$3.41 billion (30.2 percent).

The Manila-based Asian Development Bank came in third with US$2.23 billion or 19.8 percent overall share.

The total assistance from the said three sources of loans amounting to US$10.10 billion constitutes 89 percent of the total 2014 portfolio. (SDR/Sunnex)


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