Japan has never lost its top spot of the prime provider of Official Development Assistance (ODA) to the Philippines, stated the National Economic and Development Authority (NEDA).
$5.977 billion in loans and grants has been granted to the Philippines from the Japanese government, accounting for 41.20% of the total active ODA record.
Japan largely financed the Metro Manila Subway Project and signed the P50 billion loan agreement with the Philippines in assistance for said project, which is expected to kick off early this year.
The crown source of Japan was followed by the World Bank, Asian Development Bank, United States, Korea, Australia, the United Nations System, Asian Infrastructure Bank (AIIB), France, EU, China, Germany, Opec Fund for International Development (OFID), Italy, Canada, Spain, and the last in rank was New Zealand.
The total net commitment of the Philippine's active ODA reached $14.507 billion from $2.22 billion in total grants and $12.28 billion in total loans.