NEDA assures full transparency for all Official Development Assistance (ODA) Projects

The National Economic Development Authority Region 10 Office today assured full transparency to all stakeholders for all development projects funded by Official Development Assistance (ODA) or those which are assisted by foreign donors either through loan or grant financing.

Leon Dacanay Jr., NEDA-10 regional director said that NEDA, just like any other government institution, periodically provides Congress the Speaker of the Lower House and the Senate President with copies of their regular reports.

Monitoring of ODA funded projects in Northern Mindanao is one of the regular activities conducted quarterly by the Regional Project Monitoring Committee in Region -10 (RPMC-10).

Progress reports are collated quarterly and available to all interested parties at the RDC Secretariat in the NEDA-10 Office in Cagayan de Oro City.

Republic Act 8182 as amended by R.A. 8555 or "The ODA Act" requires NEDA to conduct annual reviews on the status of implementation of all projects financed through ODA, and to submit the report on same to Congress.

Dacanay said Neda´s regular report includes accomplishments, disbursements, and availment rates, among others.

"We will henceforth be providing all congressmen and especially those from Mindanao with Neda´s regular report," Dacanay said.

Recognizing the role of the Regional Development Council (RDC) as the planning and development coordinating body tasked to steer development in the region, the approval process in accessing foreign loans (be it ODA or private loans requiring national sovereign guarantee) requires the endorsement by the RDC.

While the RDC endorsement is required for all region-specific public sector projects, funded nationally or ODA, only those costing PhP 500 million and above require the approval of the Investment Coordinating Committee (ICC) of the NEDA Board.

For Build-Operate and Transfer (BOT) projects undertaken by local government units (LGUs) or private sector, RDC endorsement would suffice for projects costing up to PhP 200 million. ICC review and approval is mandated for projects which cost more than this.

Rep. Rufus Rodriguez (2nd District, Cagayan de Oro) earlier asked NEDA-10 to provide his office with copies of their regular ODA-monitoring reports, since it is the government agency tasked with formulating social and economic policies, plans, and programs of the government.

The House of Representatives, on the other hand, is tasked to monitor and evaluate the sourcing and administration of all foreign loans and grants and comply with the constitutional provision on the contracting of foreign loans, Rodriguez said.

"Foreign loans and grants provide the much needed resources for spurring economic growth and social development when devoted to underdeveloped areas in the country," Rodriguez said in a statement.

Section 21, Article 12 of the Constitution provides that foreign loans may only be incurred in accordance with the law and regulation of monetary authority, the lawmaker added.

A vice chairman of the House committee on Mindanao affairs, Rodriguez stressed that information on foreign loans obtained and guaranteed by the government should be made available to the public.