The Department of Finance (DOF) is enhancing transparency in the official development assistance (ODA) process by collaborating with various government agencies.
This initiative aims to improve transparency and assess the impact of ODA, which includes loans and grants for social and economic development.
Finance Undersecretary Joven Balbosa highlighted the need for transparent monitoring amid evolving foreign partnerships and policies.
The DOF plans to launch an ODA microsite to detail project descriptions, progress, and success stories, while also streamlining and automating ODA procedures.
Last year, the Philippines’ ODA portfolio grew by 15% to $37.29 billion, reflecting an increase in both loans and grants.
Source : PhilNews24 | August 13, 2024
