Philippines 3rd Quarter Institutional Aid Rises 63% To $993.6
Million
MANILA -(Dow Jones)- The Philippines secured $993.6 million in official
development assistance in the third quarter, an increase of 63% from a year
earlier, as multilateral institutions released more loans.
The National Economic Development Authority said Tuesday that the biggest
loans disbursed for various government projects were funded by the Japan
International Cooperation Agency, at $356.1 million; the World Bank, at $304.6
million; and the Asian Development Bank, at $172.4 million.
Roderick Planta, NEDA director for the project monitoring staff, said the
disbursement rate--the amount loans actually released as a percentage of the
available loans for the period--increased to 79% in the third quarter from 70%
in the same period last year.
The government is trying to improve its capacity to tap on the loans for
bolstering economic activity without overly straining public coffers.
-By Cris Larano, Dow Jones Newswires; 632-848-5051; cris.larano@dowjones.com
(END) Dow Jones Newswires
11-16-092329ET
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