Manila seeks $3.41-B ODAs from World Bank, ADB

 

The Philippines is seeking a total $3.41 billion in sub-market official development assistance (ODA) loans and grants from the World Bank and the Asian Development Bank (ADB).

Data from the World Bank indicate that Manila is seeking some $2.08 billion worth of loans and grants from the Washington-based lender.

Another $1.33 billion is sought from the ADB, the Manila-based multilateral development bank.

The anticipated ODA loans and grants from the World Bank cover  nine projects. Of these, the largest are the Second Disaster Risk Management (DRM) Development Policy Loan (DPL) with a Catastrophe Deferred Drawdown Option (Cat-DDO) and the Philippine National Program Support for Social
Protection Project.

The second DRM DPL with CAT-DDO Project would cost $500 million, which is to be funded entirely by the  World Bank.

The new project is a follow-up on the first DPL with a CAT-DDO, also in the amount of $500 million. The CAT-DDO was fully drawn after Typhoon Sendong (international code name Washi) resulted in a presidential declaration of a state of calamity in the Philippines in December 2011.

“The proposed operation will provide the government with an emergency line of credit, increasing the government’s postdisaster financial-response capacity,” the
World Bank said.

The National Program Support for Social Protection Project has a total project cost of $450 million. The entire amount is proposed for World Bank funding.

The program aims to support social-protection projects of the Department of Social Welfare and Development (DSWD), particularly its so-called Conditional Cash-Transfer (CCT) program.

Project documents show support for the CCT Program will require $350 million. This will cover grants of around $345 million and implementation support of another $5 million.

The program will also support an $80 million component on increasing the employability prospects of CCT beneficiaries. This will cover sustainable livelihood program (SLP) training grants worth $75 million and implementation support of $5 million.

The last two components of the project relates to $1.5 million worth of support for the DSWD’s role in disaster and emergency response and $18.5 million for DSWD’s Policy and Institutional Capacity Development program.

Meanwhile, there are 11 projects proposed for funding by the ADB. The projects that will require the most funding are those earmarked for the Public-Private Partnership (PPP) program.

These projects include the Encouraging Investment Through Capital Market Reforms Program worth $400 million and the Expanding Private Participation in Infrastructure Program worth P300 millon.

The Encouraging Investment Through Capital Market Reforms Program will require an ordinary capital resources (OCR) loan from ADB worth $300 million and funding from the Japan International Cooperation Agency (Jica) worth another $100 million.

The other program, the Expanding Private Participation in Infrastructure Program, aims to provide financial support to PPPs and expanded and efficiently implemented pipeline of PPP projects.

“The government has requested a loan of $300 million from ADB’s ordinary capital resources to help finance subprogram 1 (financial support for PPPs). The program government’s expenditure program. The Government of Japan (through the Japan International Cooperation Agency) is considering co-financing the program,” the ADB said.

In 2014 the World Bank was the country’s biggest source of ODA loans with 39.8 percent share or $4.45 billion. This was followed by Jica and the ADB with 28.3 percent worth $3.16 billion) and 20 percent or $2.23 billion shares, respectively.

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