The Philippines' foreign aid commitments in the first nine months last year fell by more than a fifth due to declining pledges from the three biggest international funding sources, the National Economic and Development Authority (NEDA) said. The country's net Official Development Assistance (ODA) commitments from January to September dropped by 12 percent on the year to USD 7.95 billion. Foreign-funded projects generally deal with infrastructure upgrade or improvement and require counterpart funds from beneficiary governments. Reduction of these funds can lead to a delay in implementation or outright cancellation of such projects. (The Manila Times)
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