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Funding the Build Build Build Program

| January 20, 2019

The Official Development Assistance (ODA), as defined in Republic Act 8182 – ODA Act of 1996, is a loan or a grant administered with the objective of promoting sustainable social and economic development and welfare of the Philippines. ODA resources must be contracted with governments of foreign countries with whom the Philippines has diplomatic, trade relations or bilateral agreements or which are members of the United Nations, their agencies and international or multilateral lending institutions.

As of September 2018, Japan leads the group of donor countries and institutions with the most investment amounting to nearly US$ 1.7 billion followed by the Asian Development Bank (US$ 980 million) and the World Bank (US$2.24 billion). China, so far, has pledged US$ 262 million for the Build, Build, Build program especially after the visit of Pres. Xi Jinping last November 2018.

The Philippines has earmarked a target of Php 9.4 trillion or US$180 billion for the Build, Build, Build modernization program.

Category: Announcements

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